CarMax (NYSE:KMX) Upgraded to Strong Sell at BNP Paribas

CarMax (NYSE:KMX) was upgraded by stock analysts at BNP Paribas to a “strong sell” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

Other analysts also recently issued reports about the stock. Evercore ISI upped their target price on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a research report on Friday. Morgan Stanley restated an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Mizuho cut their price target on CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Argus upgraded CarMax to a “hold” rating in a research note on Tuesday, June 25th. Finally, Needham & Company LLC lifted their price target on shares of CarMax from $87.00 to $90.00 and gave the company a “buy” rating in a report on Friday. Four research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.73.

CarMax Stock Performance

NYSE KMX opened at $77.38 on Friday. The firm has a market cap of $12.08 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 1.56 and a beta of 1.69. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a 50-day simple moving average of $79.64 and a two-hundred day simple moving average of $76.26. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, equities analysts forecast that CarMax will post 2.99 EPS for the current year.

Insider Buying and Selling at CarMax

In related news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the sale, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at approximately $1,690,899.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the transaction, the executive vice president now owns 11,738 shares of the company’s stock, valued at $965,567.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total value of $777,680.28. Following the transaction, the chief financial officer now directly owns 20,260 shares in the company, valued at approximately $1,690,899.60. The disclosure for this sale can be found here. Insiders have sold a total of 184,012 shares of company stock worth $14,803,843 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Several large investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its position in shares of CarMax by 29.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock worth $14,573,000 after buying an additional 37,660 shares during the last quarter. Quadrature Capital Ltd acquired a new position in CarMax in the 4th quarter worth about $5,637,000. State Board of Administration of Florida Retirement System raised its stake in shares of CarMax by 10.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock worth $16,238,000 after buying an additional 17,557 shares during the period. Van ECK Associates Corp lifted its holdings in CarMax by 38.2% during the first quarter. Van ECK Associates Corp now owns 55,800 shares of the company’s stock valued at $4,861,000 after purchasing an additional 15,426 shares in the last quarter. Finally, Swedbank AB purchased a new position in CarMax in the 1st quarter valued at about $1,406,000.

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.