CarMax Inc (KMX) Downgraded by Deutsche Bank AG to Hold
Several other equities analysts have also issued reports on KMX. Zacks Investment Research lowered CarMax from a buy rating to a hold rating in a research note on Tuesday, August 29th. Wedbush restated an outperform rating and set a $77.00 price target (up from $73.00) on shares of CarMax in a research note on Wednesday, September 13th. Oppenheimer Holdings, Inc. restated a buy rating on shares of CarMax in a research note on Friday, September 1st. The Goldman Sachs Group, Inc. lowered CarMax from a buy rating to a neutral rating and boosted their price target for the company from $74.00 to $79.00 in a research note on Monday, September 25th. Finally, Berenberg Bank began coverage on CarMax in a research note on Wednesday, October 4th. They set a hold rating and a $83.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and an average target price of $77.40.
CarMax (NYSE:KMX) traded down $1.10 during trading on Friday, hitting $69.45. The stock had a trading volume of 2,525,535 shares, compared to its average volume of 2,205,894. The company has a quick ratio of 0.48, a current ratio of 2.33 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $12,860.00, a price-to-earnings ratio of 19.49, a PEG ratio of 1.19 and a beta of 1.52. CarMax has a twelve month low of $54.29 and a twelve month high of $77.64.
CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, September 22nd. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.26 billion. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. analysts predict that CarMax will post 3.84 earnings per share for the current year.
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In other CarMax news, SVP Diane L. Cafritz sold 5,671 shares of CarMax stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $73.95, for a total transaction of $419,370.45. Following the sale, the senior vice president now directly owns 7,475 shares of the company’s stock, valued at $552,776.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO William C. Jr. Wood sold 201,701 shares of CarMax stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $73.56, for a total value of $14,837,125.56. Following the sale, the chief operating officer now directly owns 146,717 shares in the company, valued at $10,792,502.52. The disclosure for this sale can be found here. Insiders have sold 617,955 shares of company stock worth $45,664,618 over the last ninety days. Company insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in KMX. Thrivent Financial For Lutherans boosted its holdings in shares of CarMax by 3.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 6,840 shares of the company’s stock worth $405,000 after acquiring an additional 210 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of CarMax by 79.3% in the 2nd quarter. Bank of Montreal Can now owns 102,278 shares of the company’s stock worth $6,449,000 after acquiring an additional 45,232 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of CarMax in the 2nd quarter worth approximately $112,000. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of CarMax by 500.2% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 30,464 shares of the company’s stock worth $1,921,000 after acquiring an additional 25,388 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its holdings in shares of CarMax by 7.1% in the 2nd quarter. LS Investment Advisors LLC now owns 7,034 shares of the company’s stock worth $444,000 after acquiring an additional 466 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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