CarMax (NYSE:KMX) Upgraded at Stephens

CarMax (NYSE:KMX) was upgraded by research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a $66.00 price objective on the stock. Stephens’ price target indicates a potential upside of 27.17% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of CarMax in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a research report on Wednesday, April 8th. Wall Street Zen raised CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Mizuho upped their price objective on CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Barclays set a $37.00 price objective on CarMax in a research report on Thursday. Two analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $46.07.

CarMax Stock Up 9.4%

Shares of KMX stock traded up $4.47 on Thursday, hitting $51.90. 2,146,635 shares of the stock were exchanged, compared to its average volume of 3,445,184. The company has a current ratio of 2.20, a quick ratio of 0.49 and a debt-to-equity ratio of 2.93. The firm has a market capitalization of $7.36 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.21. The business has a 50-day moving average of $42.36 and a 200 day moving average of $42.45. CarMax has a fifty-two week low of $30.26 and a fifty-two week high of $71.99.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.35. The company had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a return on equity of 7.00% and a net margin of 0.96%.CarMax’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 earnings per share. Equities analysts anticipate that CarMax will post 2.3 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its position in CarMax by 63.0% during the first quarter. NewEdge Advisors LLC now owns 69,568 shares of the company’s stock valued at $2,893,000 after purchasing an additional 26,888 shares during the last quarter. Blue Edge Capital LLC bought a new stake in CarMax in the first quarter valued at approximately $304,000. Caerus Investment Advisors LLC raised its stake in CarMax by 9.0% in the first quarter. Caerus Investment Advisors LLC now owns 6,396 shares of the company’s stock valued at $266,000 after buying an additional 528 shares during the period. Wellington Grp LLC raised its stake in CarMax by 6,500.0% in the first quarter. Wellington Grp LLC now owns 726 shares of the company’s stock valued at $30,000 after buying an additional 715 shares during the period. Finally, Bank of America Corp DE raised its stake in CarMax by 61.7% in the first quarter. Bank of America Corp DE now owns 1,687,359 shares of the company’s stock valued at $70,160,000 after buying an additional 643,834 shares during the period.

Key Headlines Impacting CarMax

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: CarMax delivered a strong first-quarter beat, reporting adjusted EPS of $1.31 versus estimates around $0.96 and revenue of $8.01 billion versus $7.42 billion expected, helped by higher used-vehicle prices and stronger wholesale demand.
• Positive Sentiment: The company also unveiled a new four-pillar growth strategy focused on pricing, digital simplification, cost control, and finance penetration, which investors may see as a roadmap for improving performance over time.
• Positive Sentiment: Analysts have started to raise their forecasts after the report, including Mizuho lifting its price target from $38 to $43, signaling improving sentiment even though the rating remains neutral. Article Title

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.