CarMax’s (KMX) “Sell (D)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (d) rating on shares of CarMax (NYSE:KMX) in a research note released on Tuesday,Weiss Ratings reports.

Other equities research analysts have also issued reports about the company. Stephens lowered CarMax from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $53.00 to $42.00 in a research note on Tuesday, October 7th. Seaport Res Ptn lowered CarMax from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 28th. Needham & Company LLC cut their price objective on CarMax from $92.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Oppenheimer reiterated a “market perform” rating on shares of CarMax in a research note on Friday, September 26th. Finally, Benchmark cut their price objective on CarMax from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, CarMax has an average rating of “Hold” and a consensus price target of $51.75.

CarMax Price Performance

Shares of CarMax stock opened at $43.23 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. CarMax has a twelve month low of $42.75 and a twelve month high of $91.25. The business has a 50-day moving average price of $54.71 and a 200 day moving average price of $62.09. The firm has a market cap of $6.35 billion, a PE ratio of 12.68, a P/E/G ratio of 0.85 and a beta of 1.27.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. CarMax’s revenue for the quarter was down 6.0% on a year-over-year basis. Sell-side analysts predict that CarMax will post 3.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CarMax

A number of large investors have recently made changes to their positions in KMX. Zions Bancorporation National Association UT acquired a new position in CarMax in the first quarter valued at approximately $27,000. CYBER HORNET ETFs LLC acquired a new position in CarMax in the second quarter valued at approximately $28,000. MUFG Securities EMEA plc acquired a new position in CarMax in the second quarter valued at approximately $30,000. Accent Capital Management LLC acquired a new position in CarMax in the first quarter valued at approximately $34,000. Finally, Strengthening Families & Communities LLC lifted its holdings in CarMax by 93.1% in the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after acquiring an additional 256 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.