CarMax (KMX) Upgraded to Buy by Berenberg Bank

CarMax (NYSE:KMX) was upgraded by equities research analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a report released on Monday, January 8th, Marketbeat Ratings reports. The brokerage presently has a $83.00 target price on the stock. Berenberg Bank’s price target indicates a potential upside of 18.84% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Susquehanna Bancshares set a $68.00 price target on CarMax and gave the stock a “hold” rating in a research report on Monday, January 1st. Wedbush set a $81.00 price objective on CarMax and gave the stock a “buy” rating in a research report on Thursday, December 28th. Credit Suisse Group upgraded CarMax to a “buy” rating and set a $83.00 price objective on the stock in a research report on Monday, December 25th. Northcoast Research upgraded CarMax from a “neutral” rating to a “buy” rating in a research report on Thursday, December 14th. Finally, Zacks Investment Research lowered CarMax from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $77.07.

Shares of CarMax (KMX) opened at $69.84 on Monday. The company has a quick ratio of 0.51, a current ratio of 2.70 and a debt-to-equity ratio of 3.83. The firm has a market capitalization of $12,899.88, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.25 and a beta of 1.48. CarMax has a 1-year low of $54.29 and a 1-year high of $77.64.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, December 21st. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.01). CarMax had a net margin of 4.07% and a return on equity of 21.77%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the company posted $0.72 earnings per share. CarMax’s revenue for the quarter was up 11.0% compared to the same quarter last year. equities research analysts forecast that CarMax will post 3.84 earnings per share for the current year.

In other CarMax news, Director Thomas J. Folliard sold 8,000 shares of CarMax stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $64.04, for a total value of $512,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Tiefel sold 13,000 shares of CarMax stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $75.30, for a total value of $978,900.00. Following the completion of the sale, the director now directly owns 151,659 shares of the company’s stock, valued at approximately $11,419,922.70. The disclosure for this sale can be found here. In the last three months, insiders sold 57,453 shares of company stock valued at $4,083,571. Corporate insiders own 1.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. grew its holdings in shares of CarMax by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 643,066 shares of the company’s stock worth $40,552,000 after acquiring an additional 24,390 shares during the period. Prudential Financial Inc. grew its holdings in shares of CarMax by 6.1% in the third quarter. Prudential Financial Inc. now owns 272,325 shares of the company’s stock worth $20,645,000 after acquiring an additional 15,545 shares during the period. Magnetar Financial LLC bought a new stake in shares of CarMax in the third quarter worth $1,445,000. Victory Capital Management Inc. grew its holdings in shares of CarMax by 16.1% in the second quarter. Victory Capital Management Inc. now owns 21,633 shares of the company’s stock worth $1,364,000 after acquiring an additional 3,002 shares during the period. Finally, Toronto Dominion Bank grew its holdings in shares of CarMax by 24.2% in the second quarter. Toronto Dominion Bank now owns 62,765 shares of the company’s stock worth $3,957,000 after acquiring an additional 12,234 shares during the period.

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About CarMax

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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