CarMax (NYSE:KMX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CarMax (NYSE:KMX) from a sell rating to a hold rating in a research report released on Sunday morning.

A number of other equities analysts have also recently weighed in on the company. Morgan Stanley set a $35.00 price target on CarMax in a report on Monday, December 8th. Robert W. Baird boosted their target price on shares of CarMax from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of CarMax in a report on Friday, November 7th. William Blair downgraded shares of CarMax from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 6th. Finally, Bank of America upped their price objective on shares of CarMax from $27.00 to $31.00 and gave the company an “underperform” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $39.21.

CarMax Stock Performance

NYSE:KMX opened at $43.18 on Friday. The firm’s fifty day simple moving average is $43.59 and its 200 day simple moving average is $45.98. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. CarMax has a twelve month low of $30.26 and a twelve month high of $84.49. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.01 and a beta of 1.35.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.12. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The firm had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, equities research analysts expect that CarMax will post 3.23 earnings per share for the current fiscal year.

Institutional Trading of CarMax

Hedge funds and other institutional investors have recently bought and sold shares of the company. Framtiden Holdings Management Co LLC bought a new position in CarMax during the 4th quarter worth approximately $20,866,000. Van Diest Capital LLC acquired a new stake in shares of CarMax during the 4th quarter valued at approximately $226,000. Alberta Investment Management Corp bought a new position in CarMax during the fourth quarter worth $4,326,000. Mercer Global Advisors Inc. ADV lifted its stake in CarMax by 94.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 62,338 shares of the company’s stock worth $2,409,000 after purchasing an additional 30,218 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in CarMax by 36.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 176,750 shares of the company’s stock worth $6,830,000 after purchasing an additional 47,133 shares during the period.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.