CarMax Inc. (KMX) Sees Large Volume Increase
Shares of CarMax Inc. (NYSE:KMX) saw unusually-high trading volume on Friday . Approximately 4,596,619 shares traded hands during mid-day trading, an increase of 94% from the previous session’s volume of 2,374,900 shares.The stock last traded at $56.50 and had previously closed at $56.90.
KMX has been the topic of a number of recent research reports. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $60.00 price target on shares of CarMax in a research report on Tuesday, June 7th. Wedbush reiterated a “hold” rating and set a $44.00 price target on shares of CarMax in a research report on Thursday, June 16th. Buckingham Research reiterated a “buy” rating and set a $60.00 price target on shares of CarMax in a research report on Tuesday, June 21st. Robert W. Baird reiterated a “neutral” rating and set a $58.00 price target (down from $60.00) on shares of CarMax in a research report on Wednesday, June 22nd. Finally, Susquehanna initiated coverage on shares of CarMax in a research report on Thursday, August 25th. They set a “positive” rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. CarMax has a consensus rating of “Hold” and an average price target of $62.39.
The company’s 50-day moving average is $58.61 and its 200 day moving average is $53.28. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 18.46 and a beta of 1.46.
CarMax (NYSE:KMX) last released its quarterly earnings results on Tuesday, June 21st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by $0.02. CarMax had a net margin of 4.04% and a return on equity of 20.54%. The business earned $4.13 billion during the quarter. During the same period in the previous year, the business posted $0.86 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that CarMax Inc. will post $3.29 EPS for the current fiscal year.
In other CarMax news, EVP Eric M. Margolin sold 12,639 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $60.21, for a total value of $760,994.19. Following the completion of the sale, the executive vice president now directly owns 38,303 shares in the company, valued at $2,306,223.63. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Thomas W. Reedy, Jr. sold 57,795 shares of the stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $55.45, for a total value of $3,204,732.75. Following the completion of the sale, the chief financial officer now owns 72,135 shares of the company’s stock, valued at $3,999,885.75. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sun Life Financial INC purchased a new position in shares of CarMax during the first quarter worth $94,024,000. Canada Pension Plan Investment Board raised its position in shares of CarMax by 52.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the company’s stock worth $133,000 after buying an additional 900 shares in the last quarter. IFP Advisors Inc raised its position in shares of CarMax by 9.8% in the first quarter. IFP Advisors Inc now owns 2,820 shares of the company’s stock worth $144,000 after buying an additional 251 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of CarMax by 91.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,086 shares of the company’s stock worth $151,000 after buying an additional 1,472 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of CarMax by 32.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,295 shares of the company’s stock worth $169,000 after buying an additional 799 shares in the last quarter.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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