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.

About CarMax

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.

Analyst Recommendations for CarMax (NYSE:KMX)

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