Berenberg Bank Begins Coverage on CarMax Inc (KMX)
Berenberg Bank began coverage on shares of CarMax Inc (NYSE:KMX) in a research note published on Wednesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $83.00 target price on the stock.
A number of other equities analysts also recently commented on the company. Credit Suisse Group lifted their target price on CarMax from $75.00 to $83.00 and gave the company an outperform rating in a research note on Friday, September 29th. Susquehanna Bancshares Inc restated a neutral rating and issued a $75.00 target price (up from $66.00) on shares of CarMax in a research note on Tuesday, September 26th. Zacks Investment Research upgraded CarMax from a hold rating to a buy rating and set a $83.00 target price for the company in a research note on Tuesday, September 26th. Deutsche Bank AG restated a buy rating and issued a $84.00 target price on shares of CarMax in a research note on Monday, September 25th. Finally, Buckingham Research lifted their target price on CarMax from $66.00 to $75.00 and gave the company a neutral rating in a research note on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $77.93.
CarMax (KMX) traded up 0.58% during mid-day trading on Wednesday, reaching $76.81. The company’s stock had a trading volume of 1,298,360 shares. The firm has a market capitalization of $14.08 billion, a PE ratio of 22.06 and a beta of 1.38. The stock’s 50-day moving average is $69.62 and its 200-day moving average is $63.75. CarMax has a 12 month low of $47.50 and a 12 month high of $77.64.
CarMax (NYSE:KMX) last issued its earnings results on Friday, September 22nd. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. CarMax’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that CarMax will post $3.81 EPS for the current year.
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In related news, EVP Edwin J. Hill sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $64.88, for a total transaction of $2,270,800.00. Following the sale, the executive vice president now owns 39,792 shares of the company’s stock, valued at $2,581,704.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Edwin J. Hill sold 35,497 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $65.69, for a total value of $2,331,797.93. Following the sale, the executive vice president now directly owns 40,289 shares in the company, valued at approximately $2,646,584.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 644,520 shares of company stock worth $46,786,223. 1.70% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in KMX. BlackRock Inc. raised its holdings in CarMax by 3,199.4% during the first quarter. BlackRock Inc. now owns 11,088,633 shares of the company’s stock worth $656,668,000 after purchasing an additional 10,752,554 shares in the last quarter. Nordea Investment Management AB raised its holdings in CarMax by 751.0% during the second quarter. Nordea Investment Management AB now owns 2,148,186 shares of the company’s stock worth $135,465,000 after purchasing an additional 1,895,763 shares in the last quarter. Principal Financial Group Inc. raised its holdings in CarMax by 8.3% during the second quarter. Principal Financial Group Inc. now owns 9,177,018 shares of the company’s stock worth $578,702,000 after purchasing an additional 706,369 shares in the last quarter. UBS Oconnor LLC bought a new stake in CarMax during the second quarter worth approximately $44,142,000. Finally, Balyasny Asset Management LLC raised its holdings in CarMax by 543.5% during the second quarter. Balyasny Asset Management LLC now owns 638,700 shares of the company’s stock worth $40,276,000 after purchasing an additional 539,451 shares in the last quarter.
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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