CarMax (NYSE:KMX) Stock Rating Upgraded by StockNews.com

CarMax (NYSE:KMX) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research note issued to investors on Monday.

KMX has been the subject of a number of other research reports. Mizuho dropped their price objective on CarMax from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Robert W. Baird dropped their price objective on CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday, April 12th. Needham & Company LLC dropped their price objective on CarMax from $99.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Truist Financial decreased their target price on CarMax from $75.00 to $72.00 and set a “hold” rating for the company in a report on Friday, April 12th. Finally, Bank of America upped their target price on CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.42.

CarMax Stock Up 2.7 %

Shares of KMX opened at $69.71 on Monday. The firm has a market cap of $10.97 billion, a P/E ratio of 23.01, a P/E/G ratio of 1.13 and a beta of 1.61. The stock has a 50 day simple moving average of $78.18 and a two-hundred day simple moving average of $72.12. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.26 and a quick ratio of 0.67. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.13). The firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. On average, analysts forecast that CarMax will post 3.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Jill A. Livesay sold 14,199 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the completion of the transaction, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Diane L. Cafritz sold 22,000 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the completion of the transaction, the executive vice president now directly owns 5,073 shares in the company, valued at $355,515.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the sale, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The disclosure for this sale can be found here. 1.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CarMax

Several institutional investors have recently modified their holdings of KMX. Norges Bank purchased a new stake in shares of CarMax during the fourth quarter valued at $288,278,000. Morningstar Investment Services LLC boosted its position in shares of CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after buying an additional 1,326,840 shares during the last quarter. American Century Companies Inc. boosted its position in CarMax by 674.3% in the third quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock worth $57,059,000 after purchasing an additional 702,526 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in CarMax by 2,311.1% in the third quarter. Los Angeles Capital Management LLC now owns 603,659 shares of the company’s stock worth $42,697,000 after purchasing an additional 578,622 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in CarMax by 5,711.9% in the fourth quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock worth $32,781,000 after purchasing an additional 419,826 shares during the last quarter.

CarMax Company Profile

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.