CarMax (NYSE:KMX) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer restated their outperform rating on shares of CarMax (NYSE:KMX) in a report released on Friday morning, Benzinga reports. They currently have a $105.00 price objective on the stock.

Other analysts also recently issued reports about the stock. BNP Paribas upgraded shares of CarMax to a strong sell rating in a research report on Friday, September 27th. Argus upgraded CarMax to a hold rating in a research report on Tuesday, June 25th. Royal Bank of Canada increased their price target on CarMax from $75.00 to $82.00 and gave the company an outperform rating in a research note on Friday, September 27th. Truist Financial boosted their price objective on CarMax from $70.00 to $75.00 and gave the stock a hold rating in a research note on Monday, September 23rd. Finally, StockNews.com raised CarMax to a sell rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $79.45.

CarMax Stock Down 1.1 %

KMX opened at $72.27 on Friday. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The stock’s 50 day moving average price is $78.94 and its 200 day moving average price is $75.99. The stock has a market cap of $11.28 billion, a P/E ratio of 28.23, a P/E/G ratio of 1.56 and a beta of 1.68.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. CarMax’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. As a group, research analysts predict that CarMax will post 2.99 earnings per share for the current year.

Insider Activity at CarMax

In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the sale, the executive vice president now owns 11,738 shares in the company, valued at approximately $965,567.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the transaction, the executive vice president now owns 11,738 shares in the company, valued at approximately $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,012 shares of company stock worth $14,803,843 in the last quarter. 1.66% of the stock is owned by company insiders.

Institutional Trading of CarMax

A number of hedge funds have recently modified their holdings of KMX. Vanguard Group Inc. raised its position in CarMax by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after buying an additional 222,132 shares during the period. First Pacific Advisors LP grew its position in CarMax by 2.0% during the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock valued at $175,005,000 after purchasing an additional 47,184 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in CarMax by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock worth $147,230,000 after buying an additional 51,397 shares in the last quarter. Vulcan Value Partners LLC boosted its stake in shares of CarMax by 299.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after buying an additional 1,369,986 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of CarMax by 21.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock worth $121,479,000 after acquiring an additional 288,165 shares during the last quarter.

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.