CarMax (NYSE:KMX) Upgraded by UBS Group to “Hold” Rating

CarMax (NYSE:KMX) was upgraded by investment analysts at UBS Group to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on KMX. Wall Street Zen raised CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Bank of America started coverage on CarMax in a research report on Wednesday, April 15th. They issued an “underperform” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on CarMax from $28.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research report on Wednesday, April 8th. Finally, Stephens increased their price objective on CarMax from $39.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $41.27.

CarMax Stock Up 3.7%

KMX opened at $43.83 on Wednesday. CarMax has a 1-year low of $30.26 and a 1-year high of $71.99. The company has a current ratio of 2.20, a quick ratio of 0.49 and a debt-to-equity ratio of 2.93. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 1.60 and a beta of 1.19. The business has a 50 day moving average of $40.59 and a 200-day moving average of $41.17.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.12. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The company had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the business earned $0.58 earnings per share. CarMax’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that CarMax will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after purchasing an additional 161 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CarMax by 0.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after purchasing an additional 173 shares in the last quarter. Blue Trust Inc. raised its position in CarMax by 20.0% during the fourth quarter. Blue Trust Inc. now owns 1,424 shares of the company’s stock valued at $55,000 after purchasing an additional 237 shares in the last quarter. Huntington National Bank raised its position in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. Finally, Ossiam raised its position in CarMax by 19.5% during the second quarter. Ossiam now owns 1,713 shares of the company’s stock valued at $115,000 after purchasing an additional 280 shares in the last quarter.

About CarMax

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.