CarMax, Inc (KMX) Given Average Recommendation of “Buy” by Brokerages

Shares of CarMax, Inc (NYSE:KMX) have been assigned a consensus rating of “Buy” from the twenty-one brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $83.50.

Several research analysts have weighed in on the stock. Morgan Stanley set a $89.00 target price on shares of CarMax and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Zacks Investment Research cut shares of CarMax from a “buy” rating to a “hold” rating in a research report on Monday, August 20th. Robert W. Baird raised shares of CarMax from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 27th. Wedbush set a $87.00 price target on shares of CarMax and gave the stock a “buy” rating in a research report on Thursday, September 27th. Finally, Wolfe Research initiated coverage on shares of CarMax in a research report on Tuesday, October 2nd. They set a “peer perform” rating on the stock.

In other news, SVP Mohammad Shamim sold 34,142 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $74.16, for a total transaction of $2,531,970.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jon G. Daniels sold 16,325 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $70.88, for a total transaction of $1,157,116.00. Following the transaction, the senior vice president now owns 16,325 shares in the company, valued at $1,157,116. The disclosure for this sale can be found here. Company insiders own 1.97% of the company’s stock.

Large investors have recently bought and sold shares of the stock. CWM LLC grew its position in CarMax by 266.0% in the 3rd quarter. CWM LLC now owns 1,442 shares of the company’s stock valued at $108,000 after buying an additional 1,048 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in CarMax in the 3rd quarter valued at $123,000. JNBA Financial Advisors grew its position in CarMax by 3,526.9% in the 3rd quarter. JNBA Financial Advisors now owns 1,886 shares of the company’s stock valued at $141,000 after buying an additional 1,834 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in CarMax in the 2nd quarter valued at $149,000. Finally, Fuller & Thaler Asset Management Inc. grew its position in CarMax by 57.7% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 2,050 shares of the company’s stock valued at $149,000 after buying an additional 750 shares during the last quarter.

Shares of KMX stock opened at $62.85 on Monday. The company has a quick ratio of 0.52, a current ratio of 2.35 and a debt-to-equity ratio of 3.78. The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 0.91 and a beta of 1.62. CarMax has a 1-year low of $57.05 and a 1-year high of $81.67.

CarMax (NYSE:KMX) last announced its earnings results on Wednesday, September 26th. The company reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.02. The company had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.65 billion. CarMax had a net margin of 4.12% and a return on equity of 22.26%. CarMax’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. Equities research analysts anticipate that CarMax will post 4.64 earnings per share for the current fiscal year.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Analyst Recommendations for CarMax (NYSE:KMX)

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