CarMax (NYSE:KMX) Upgraded at StockNews.com

StockNews.com upgraded shares of CarMax (NYSE:KMX) to a sell rating in a research note issued to investors on Tuesday.

A number of other research analysts also recently commented on the stock. Oppenheimer reissued an outperform rating and issued a $105.00 price objective on shares of CarMax in a research report on Monday, June 24th. Argus raised shares of CarMax to a hold rating in a research report on Tuesday, June 25th. Needham & Company LLC decreased their price objective on shares of CarMax from $91.00 to $87.00 and set a buy rating for the company in a research report on Monday, June 24th. Wedbush reissued an outperform rating and issued a $90.00 price objective on shares of CarMax in a research report on Tuesday, June 18th. Finally, Royal Bank of Canada lifted their price objective on shares of CarMax from $73.00 to $75.00 and gave the company an outperform rating in a research report on Monday, June 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CarMax currently has a consensus rating of Hold and an average price target of $75.50.

CarMax Stock Up 3.6 %

CarMax stock opened at $79.70 on Tuesday. The company has a market cap of $12.44 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.69. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22. The company has a fifty day simple moving average of $71.54 and a 200 day simple moving average of $73.95. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX) last released its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. Research analysts anticipate that CarMax will post 3.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CarMax news, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Diane L. Cafritz sold 15,356 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the transaction, the executive vice president now directly owns 6,977 shares in the company, valued at approximately $485,110.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at $72,097.70. The disclosure for this sale can be found here. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its position in shares of CarMax by 153.3% in the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after buying an additional 207 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of CarMax by 1,081.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after buying an additional 400 shares in the last quarter. Mendota Financial Group LLC acquired a new position in shares of CarMax in the 4th quarter valued at approximately $37,000. MCF Advisors LLC acquired a new position in shares of CarMax in the 4th quarter valued at approximately $46,000. Finally, Lindbrook Capital LLC raised its position in shares of CarMax by 32.8% in the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock valued at $48,000 after buying an additional 155 shares in the last quarter.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.