CarMax (KMX) – Investment Analysts’ Weekly Ratings Updates

CarMax (NYSE: KMX) recently received a number of ratings updates from brokerages and research firms:

• 9/27/2024 – CarMax was upgraded by analysts at BNP Paribas to a “strong sell” rating.
• 9/27/2024 – CarMax had its price target raised by analysts at Royal Bank of Canada from $75.00 to $82.00. They now have an “outperform” rating on the stock.
• 9/27/2024 – CarMax had its price target raised by analysts at Evercore ISI from $76.00 to $79.00. They now have an “in-line” rating on the stock.
• 9/27/2024 – CarMax had its price target raised by analysts at Needham & Company LLC from $87.00 to $90.00. They now have a “buy” rating on the stock.
• 9/23/2024 – CarMax had its price target raised by analysts at Truist Financial Co. from $70.00 to $75.00. They now have a “hold” rating on the stock.
• 9/19/2024 – CarMax had its price target raised by analysts at JPMorgan Chase & Co. from $55.00 to $65.00. They now have an “underweight” rating on the stock.
• 9/17/2024 – CarMax had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $95.00 price target on the stock.
• 8/16/2024 – CarMax had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $95.00 price target on the stock.

CarMax Trading Down 3.5 %

Shares of KMX stock opened at $75.43 on Thursday. The stock’s fifty day moving average is $79.51 and its two-hundred day moving average is $76.23. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. The firm has a market capitalization of $11.77 billion, a P/E ratio of 29.46, a PEG ratio of 1.56 and a beta of 1.69. CarMax, Inc. has a fifty-two week low of $59.66 and a fifty-two week high of $88.22.

CarMax (NYSE:KMX) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 EPS. Research analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Insider Buying and Selling at CarMax

In other CarMax news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CarMax news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John M. Stuckey III sold 19,673 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $82.01, for a total value of $1,613,382.73. Following the completion of the sale, the senior vice president now directly owns 969 shares of the company’s stock, valued at $79,467.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,012 shares of company stock worth $14,803,843. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently modified their holdings of KMX. Vulcan Value Partners LLC increased its stake in shares of CarMax by 299.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after acquiring an additional 1,369,986 shares during the last quarter. Morningstar Investment Services LLC increased its position in shares of CarMax by 95.4% during the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after purchasing an additional 1,326,840 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of CarMax by 1,327.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after purchasing an additional 951,558 shares during the last quarter. Epoch Investment Partners Inc. increased its position in shares of CarMax by 3,094.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after purchasing an additional 577,685 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of CarMax by 87.6% during the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after purchasing an additional 541,967 shares during the last quarter.

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.