CarMax (KMX) Rating Increased to Buy at Berenberg Bank
CarMax (NYSE:KMX) was upgraded by investment analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a report released on Monday, Marketbeat.com reports. The brokerage presently has a $83.00 target price on the stock. Berenberg Bank’s price objective would indicate a potential upside of 18.91% from the stock’s current price.
KMX has been the subject of several other reports. Credit Suisse Group raised CarMax to a “buy” rating and set a $83.00 price objective for the company in a report on Monday, December 25th. Deutsche Bank decreased their price objective on CarMax from $84.00 to $76.00 and set a “hold” rating for the company in a report on Sunday, November 26th. CIBC reissued a “market perform” rating on shares of CarMax in a report on Thursday, October 5th. Wedbush reissued an “outperform” rating and issued a $81.00 price objective on shares of CarMax in a report on Friday, December 22nd. Finally, Northcoast Research raised CarMax from a “neutral” rating to a “buy” rating in a report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $77.07.
CarMax (NYSE KMX) traded down $0.25 during mid-day trading on Monday, hitting $69.80. The stock had a trading volume of 2,361,900 shares, compared to its average volume of 3,463,933. The firm has a market capitalization of $12,620.00, a P/E ratio of 18.71, a P/E/G ratio of 1.19 and a beta of 1.48. CarMax has a 1-year low of $54.29 and a 1-year high of $77.64. The company has a debt-to-equity ratio of 3.83, a current ratio of 2.70 and a quick ratio of 0.51.
CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 21st. The company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.01). The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $3.97 billion. CarMax had a net margin of 4.07% and a return on equity of 21.77%. CarMax’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. equities research analysts expect that CarMax will post 3.86 EPS for the current fiscal year.
In related news, EVP Edwin J. Hill sold 25,000 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $75.75, for a total transaction of $1,893,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric M. Margolin sold 4,453 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $75.30, for a total value of $335,310.90. Following the sale, the executive vice president now directly owns 22,051 shares of the company’s stock, valued at $1,660,440.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,453 shares of company stock valued at $6,578,041. Corporate insiders own 1.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. lifted its holdings in shares of CarMax by 3.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 643,066 shares of the company’s stock worth $40,552,000 after purchasing an additional 24,390 shares during the period. Prudential Financial Inc. lifted its holdings in CarMax by 6.1% in the third quarter. Prudential Financial Inc. now owns 272,325 shares of the company’s stock valued at $20,645,000 after acquiring an additional 15,545 shares during the period. Magnetar Financial LLC acquired a new stake in CarMax in the third quarter valued at $1,445,000. Victory Capital Management Inc. lifted its holdings in CarMax by 16.1% in the second quarter. Victory Capital Management Inc. now owns 21,633 shares of the company’s stock valued at $1,364,000 after acquiring an additional 3,002 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in CarMax by 24.2% in the second quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock valued at $3,957,000 after acquiring an additional 12,234 shares during the period.
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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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