CarMax (NYSE:KMX) Receives Outperform Rating from Oppenheimer

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

Several other research analysts also recently weighed in on KMX. Evercore ISI dropped their target price on shares of CarMax from $73.00 to $68.00 and set an in-line rating for the company in a report on Thursday, June 20th. Robert W. Baird dropped their target price on shares of CarMax from $88.00 to $84.00 and set an outperform rating for the company in a report on Friday, April 12th. Mizuho dropped their target price on shares of CarMax from $75.00 to $72.00 and set a neutral rating for the company in a report on Tuesday, June 18th. StockNews.com upgraded shares of CarMax to a sell rating in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of CarMax from $60.00 to $55.00 and set an underweight rating on the stock in a research note on Monday, April 15th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $75.50.

CarMax Trading Up 0.8 %

Shares of KMX stock opened at $73.33 on Monday. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22. The firm has a fifty day moving average price of $70.56 and a 200-day moving average price of $73.94. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.41 and a beta of 1.69.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. CarMax’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 EPS. As a group, equities analysts predict that CarMax will post 3.06 earnings per share for the current year.

Insider Activity

In other news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the sale, the executive vice president now directly owns 6,977 shares in the company, valued at approximately $485,110.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the sale, the executive vice president now directly owns 6,977 shares in the company, valued at approximately $485,110.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jon G. Daniels sold 1,231 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the sale, the senior vice president now owns 995 shares in the company, valued at $72,097.70. The disclosure for this sale can be found here. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in CarMax by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after purchasing an additional 222,132 shares during the period. Norges Bank purchased a new stake in CarMax in the 4th quarter worth about $288,278,000. Morningstar Investment Services LLC raised its position in CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after purchasing an additional 1,326,840 shares during the period. Cooke & Bieler LP raised its position in CarMax by 3.1% in the 4th quarter. Cooke & Bieler LP now owns 2,344,650 shares of the company’s stock worth $179,928,000 after purchasing an additional 69,409 shares during the period. Finally, First Pacific Advisors LP raised its position in CarMax by 0.3% in the 1st quarter. First Pacific Advisors LP now owns 2,339,026 shares of the company’s stock worth $203,753,000 after purchasing an additional 7,481 shares during the period.

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.