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.

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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.

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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