CarMax (KMX) Upgraded to “Buy” at Credit Suisse Group

Credit Suisse Group upgraded shares of CarMax (NYSE:KMX) to a buy rating in a research report sent to investors on Monday. They currently have $83.00 price target on the stock.

Other analysts also recently issued research reports about the company. UBS Group downgraded CarMax from an outperform rating to a market perform rating in a research note on Thursday, October 5th. Oppenheimer downgraded CarMax from an outperform rating to a market perform rating and set a $80.00 price target on the stock. in a research note on Thursday, October 5th. CIBC restated a market perform rating on shares of CarMax in a research note on Thursday, October 5th. Berenberg Bank began coverage on CarMax in a research report on Wednesday, October 4th. They issued a hold rating and a $83.00 price objective on the stock. Finally, Zacks Investment Research cut CarMax from a buy rating to a hold rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. CarMax has a consensus rating of Hold and a consensus target price of $77.57.

Shares of CarMax (NYSE:KMX) traded down $0.77 during trading hours on Monday, reaching $65.23. The company had a trading volume of 2,431,000 shares, compared to its average volume of 2,248,940. CarMax has a 52 week low of $54.29 and a 52 week high of $77.64. The stock has a market cap of $11,838.55, a P/E ratio of 17.49, a PEG ratio of 1.09 and a beta of 1.48. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.51 and a current ratio of 2.70.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 21st. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). CarMax had a net margin of 4.07% and a return on equity of 21.77%. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. equities research analysts anticipate that CarMax will post 3.85 earnings per share for the current fiscal year.

In other news, SVP Diane L. Cafritz sold 5,671 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $73.95, for a total transaction of $419,370.45. Following the completion of the transaction, the senior vice president now owns 7,475 shares in the company, valued at $552,776.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas J. Folliard sold 8,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $67.50, for a total value of $540,000.00. Following the transaction, the director now owns 439,572 shares of the company’s stock, valued at approximately $29,671,110. The disclosure for this sale can be found here. Insiders sold a total of 189,569 shares of company stock valued at $14,123,448 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Seven Eight Capital LP bought a new stake in CarMax in the second quarter worth about $133,000. Tredje AP fonden bought a new stake in CarMax in the third quarter worth about $144,000. QS Investors LLC lifted its stake in CarMax by 1.0% in the second quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after purchasing an additional 22 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its stake in CarMax by 1.3% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,331 shares of the company’s stock worth $149,000 after purchasing an additional 29 shares during the last quarter. Finally, MML Investors Services LLC bought a new stake in shares of CarMax during the second quarter valued at approximately $201,000.

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CarMax Company Profile

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

Analyst Recommendations for CarMax (NYSE:KMX)

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