CarMax (NYSE:KMX) Coverage Initiated at Stephens

Stephens initiated coverage on shares of CarMax (NYSE:KMX) in a report issued on Thursday, Marketbeat.com reports. The firm issued an equal weight rating and a $86.00 price objective on the stock.

Several other equities research analysts have also issued reports on the company. Wedbush reiterated an “outperform” rating and set a $95.00 price target on shares of CarMax in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Evercore ISI lifted their price objective on shares of CarMax from $81.00 to $83.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of CarMax in a report on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $81.00.

CarMax Stock Up 2.0 %

KMX stock opened at $86.23 on Thursday. The company has a 50 day moving average of $76.71 and a two-hundred day moving average of $76.60. The company has a market cap of $13.36 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 1.70 and a beta of 1.71. CarMax has a 12-month low of $65.38 and a 12-month high of $88.22. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. CarMax’s revenue was down .9% on a year-over-year basis. On average, equities analysts anticipate that CarMax will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CarMax

A number of institutional investors have recently made changes to their positions in KMX. State Street Corp grew its holdings in CarMax by 0.6% in the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company’s stock valued at $479,228,000 after buying an additional 36,959 shares during the last quarter. Janus Henderson Group PLC increased its position in CarMax by 0.6% during the third quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company’s stock worth $359,216,000 after acquiring an additional 28,466 shares during the period. Geode Capital Management LLC raised its stake in CarMax by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock valued at $282,479,000 after purchasing an additional 14,903 shares during the last quarter. First Pacific Advisors LP boosted its holdings in CarMax by 2.0% in the 2nd quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock valued at $175,005,000 after purchasing an additional 47,184 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in CarMax by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock worth $147,230,000 after purchasing an additional 51,397 shares during the last quarter.

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.