StockNews.com Upgrades CarMax (NYSE:KMX) to “Hold”

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

Several other research analysts have also weighed in on KMX. Truist Financial upped their price target on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday. Wedbush reiterated an “outperform” rating and issued a $95.00 target price on shares of CarMax in a report on Wednesday, October 16th. Needham & Company LLC raised their price target on shares of CarMax from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research note on Friday, October 4th. Finally, Royal Bank of Canada lifted their target price on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $85.17.

CarMax Price Performance

NYSE KMX opened at $84.27 on Friday. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. CarMax has a 1 year low of $65.83 and a 1 year high of $91.25. The company has a market cap of $13.06 billion, a PE ratio of 31.68, a PEG ratio of 1.76 and a beta of 1.71. The stock’s 50-day moving average price is $78.77 and its two-hundred day moving average price is $77.55.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, analysts predict that CarMax will post 3.01 EPS for the current year.

Institutional Trading of CarMax

A number of institutional investors and hedge funds have recently made changes to their positions in KMX. World Investment Advisors LLC bought a new position in shares of CarMax in the 3rd quarter valued at approximately $6,942,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of CarMax by 3.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock valued at $27,188,000 after purchasing an additional 10,898 shares during the period. Eagle Rock Investment Company LLC acquired a new stake in shares of CarMax in the third quarter worth $747,000. Neo Ivy Capital Management acquired a new position in CarMax in the 3rd quarter valued at $3,934,000. Finally, iSAM Funds UK Ltd bought a new position in CarMax in the 3rd quarter worth $537,000.

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.