CarMax (NYSE:KMX) Stock Bumped Down to Hold by Wall Street Zen

Wall Street Zen lowered shares of CarMax (NYSE:KMX) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other research firms also recently commented on KMX. UBS Group set a $65.00 price objective on CarMax in a research note on Thursday, October 15th. Bank of America raised shares of CarMax from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $65.00 in a research note on Thursday, October 15th. Zacks Research raised shares of CarMax from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. Robert W. Baird upped their target price on shares of CarMax from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, September 30th. Finally, Stephens increased their target price on shares of CarMax from $66.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, CarMax has an average rating of “Hold” and a consensus target price of $57.85.

CarMax Price Performance

NYSE:KMX opened at $55.62 on Friday. CarMax has a 12 month low of $30.26 and a 12 month high of $65.28. The stock has a 50 day moving average of $57.09 and a two-hundred day moving average of $49.47. The company has a current ratio of 2.33, a quick ratio of 0.57 and a debt-to-equity ratio of 2.66. The firm has a market cap of $7.89 billion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23.

CarMax (NYSE:KMX) last announced its earnings results on Tuesday, September 29th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.43. The business had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.09 billion. CarMax had a return on equity of 7.76% and a net margin of 1.06%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, analysts expect that CarMax will post 3.15 earnings per share for the current fiscal year.

Institutional Trading of CarMax

Hedge funds have recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of CarMax by 9.8% during the 3rd quarter. IFP Advisors Inc now owns 2,348 shares of the company’s stock valued at $129,000 after buying an additional 210 shares during the period. Sequoia Financial Advisors LLC grew its position in CarMax by 5.1% in the first quarter. Sequoia Financial Advisors LLC now owns 6,460 shares of the company’s stock worth $269,000 after acquiring an additional 311 shares during the period. Basecamp Wealth Advisors LLC grew its position in CarMax by 105.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 327 shares during the period. Verus Financial Partners Inc. grew its position in CarMax by 7.0% in the third quarter. Verus Financial Partners Inc. now owns 5,026 shares of the company’s stock worth $277,000 after acquiring an additional 330 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its position in CarMax by 15.3% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,888 shares of the company’s stock worth $159,000 after acquiring an additional 384 shares during the period.

About CarMax

CarMax, Inc is a specialty retailer of used vehicles and operates one of the largest used-car sales networks in the United States. The company sells a broad selection of pre-owned cars, trucks and SUVs through its retail stores and online platform, offering customers tools for vehicle search, appraisal, financing and purchase.

CarMax also operates a vehicle appraisal and acquisition business, buying vehicles from consumers and other sources for resale through its retail or wholesale channels.