UBS AG Downgrades CarMax Inc (KMX) to Market Perform
CarMax Inc (NYSE:KMX) was downgraded by UBS AG from an “outperform” rating to a “market perform” rating in a report released on Thursday.
Several other equities analysts have also recently issued reports on KMX. Citigroup Inc. boosted their target price on shares of CarMax to $84.00 and gave the company a “buy” rating in a research note on Monday, September 25th. Susquehanna Bancshares Inc reiterated 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. Berenberg Bank began coverage on shares of CarMax in a research note on Wednesday. They issued a “hold” rating and a $83.00 target price for the company. CIBC boosted their target price on shares of CarMax from $72.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, September 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $81.00 target price (up from $77.00) on shares of CarMax in a research note on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. CarMax presently has an average rating of “Buy” and a consensus target price of $77.93.
Shares of CarMax (NYSE KMX) opened at 76.81 on Thursday. The firm’s 50-day moving average is $69.62 and its 200-day moving average is $63.75. The stock has a market capitalization of $14.08 billion, a PE ratio of 22.06 and a beta of 1.38. CarMax has a one year low of $47.50 and a one year high of $77.64.
CarMax (NYSE:KMX) last posted its earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the previous year, the business posted $0.88 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. On average, analysts expect that CarMax will post $3.81 earnings per share for the current fiscal year.
In other news, SVP Mohammad Shamim sold 1,300 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $76.10, for a total transaction of $98,930.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William R. Tiefel sold 23,000 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $76.39, for a total transaction of $1,756,970.00. The disclosure for this sale can be found here. Insiders have sold 644,520 shares of company stock valued at $46,786,223 in the last ninety days. Insiders own 1.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in KMX. Korea Investment CORP boosted its position in shares of CarMax by 140.5% during the 2nd quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock valued at $111,000 after acquiring an additional 1,033 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of CarMax during the 2nd quarter valued at about $112,000. Seven Eight Capital LP acquired a new position in shares of CarMax during the 2nd quarter valued at about $133,000. QS Investors LLC boosted its position in shares of CarMax by 1.0% during the 2nd quarter. QS Investors LLC now owns 2,333 shares of the company’s stock valued at $147,000 after acquiring an additional 22 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of CarMax by 7.3% during the 1st quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock valued at $148,000 after acquiring an additional 169 shares during 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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