CarMax (NYSE:KMX) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of CarMax (NYSE:KMX) to a sell rating in a report published on Friday.

KMX has been the topic of several other reports. Evercore ISI lifted their price objective on CarMax from $68.00 to $72.00 and gave the company an in-line rating in a research note on Tuesday, July 16th. Mizuho reduced their price target on CarMax from $75.00 to $72.00 and set a neutral rating on the stock in a research report on Tuesday, June 18th. Robert W. Baird reduced their price target on CarMax from $88.00 to $84.00 and set an outperform rating on the stock in a research report on Friday, April 12th. Royal Bank of Canada lifted their price objective on CarMax from $73.00 to $75.00 and gave the stock an outperform rating in a report on Monday, June 24th. Finally, Truist Financial lifted their price objective on CarMax from $66.00 to $70.00 and gave the stock a hold rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, CarMax presently has a consensus rating of Hold and a consensus price target of $76.25.

CarMax Stock Up 1.8 %

Shares of NYSE:KMX opened at $83.02 on Friday. The stock’s 50-day moving average price is $73.66 and its two-hundred day moving average price is $74.43. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 32.43, a PEG ratio of 1.66 and a beta of 1.69.

CarMax (NYSE:KMX) last released its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. On average, research analysts forecast that CarMax will post 2.99 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Jon G. Daniels sold 1,231 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares in the company, valued at $72,097.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jon G. Daniels sold 1,231 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares of the company’s stock, valued at approximately $72,097.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,243 shares of company stock worth $12,836,542. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Baker Tilly Wealth Management LLC raised its position in shares of CarMax by 4.6% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock worth $217,000 after purchasing an additional 130 shares during the period. GAMMA Investing LLC raised its position in CarMax by 6.5% during the first quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock valued at $188,000 after buying an additional 131 shares during the period. Peoples Bank KS raised its position in CarMax by 10.0% during the second quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock valued at $108,000 after buying an additional 135 shares during the period. Spire Wealth Management raised its position in CarMax by 8.3% during the fourth quarter. Spire Wealth Management now owns 1,908 shares of the company’s stock valued at $146,000 after buying an additional 147 shares during the period. Finally, Lindbrook Capital LLC raised its position in CarMax by 32.8% during the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock valued at $48,000 after buying an additional 155 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.