CarMax (NYSE:KMX) Stock Rating Reaffirmed by Wedbush

CarMax (NYSE:KMX)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a report released on Tuesday, Benzinga reports. They currently have a $95.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 20.19% from the company’s previous close.

A number of other research firms also recently issued reports on KMX. Morgan Stanley restated an “overweight” rating and set a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 target price on shares of CarMax in a report on Monday, June 24th. StockNews.com raised shares of CarMax to a “sell” rating in a research note on Friday, July 26th. Argus upgraded CarMax to a “hold” rating in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada increased their price target on CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.25.

CarMax Trading Up 0.3 %

NYSE:KMX opened at $79.04 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The firm has a fifty day simple moving average of $80.26 and a 200-day simple moving average of $76.53. The company has a market capitalization of $12.34 billion, a P/E ratio of 30.88, a PEG ratio of 1.53 and a beta of 1.69. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22.

CarMax (NYSE:KMX) last released its earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s revenue was down 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that CarMax will post 2.99 earnings per share for the current year.

Insider Transactions at CarMax

In related news, COO Charles Joseph Wilson sold 10,021 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the transaction, the chief operating officer now directly owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Nash sold 120,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Insiders have sold 185,243 shares of company stock valued at $14,893,042 over the last ninety days. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Community Trust NA acquired a new position in shares of CarMax during the 2nd quarter valued at about $29,000. Quarry LP raised its position in shares of CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after buying an additional 184 shares during the period. Blue Trust Inc. raised its position in shares of CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after buying an additional 287 shares during the period. Studio Investment Management LLC lifted its holdings in CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after acquiring an additional 334 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in CarMax in the first quarter worth approximately $55,000.

About CarMax

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.