CarMax (NYSE:KMX) had its price target lifted by analysts at Morgan Stanley from $89.00 to $93.00 in a report released on Wednesday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 20.12% from the company’s current price.
Other research analysts have also issued research reports about the company. Guggenheim upgraded CarMax from a “neutral” rating to a “buy” rating in a research report on Monday, December 24th. Oppenheimer restated a “buy” rating on shares of CarMax in a research report on Thursday, December 20th. Buckingham Research upgraded CarMax from a “neutral” rating to a “buy” rating in a research report on Monday, January 7th. Wedbush set a $70.00 price target on CarMax and gave the stock a “buy” rating in a research report on Wednesday, January 2nd. Finally, ValuEngine upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. CarMax has an average rating of “Buy” and an average target price of $82.00.
Shares of NYSE KMX opened at $77.42 on Wednesday. CarMax has a twelve month low of $55.24 and a twelve month high of $81.67. The company has a quick ratio of 0.53, a current ratio of 2.45 and a debt-to-equity ratio of 4.11. The company has a market capitalization of $13.17 billion, a PE ratio of 16.16, a PEG ratio of 1.20 and a beta of 1.28.
CarMax (NYSE:KMX) last released its quarterly earnings data on Friday, March 29th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.09. CarMax had a return on equity of 24.67% and a net margin of 4.64%. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that CarMax will post 5.12 EPS for the current year.
In other news, Director Thomas J. Folliard sold 360,006 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $71.18, for a total transaction of $25,625,227.08. Following the sale, the director now directly owns 511,879 shares of the company’s stock, valued at $36,435,547.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Diane L. Cafritz sold 3,484 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $71.04, for a total value of $247,503.36. Following the sale, the senior vice president now directly owns 11,331 shares in the company, valued at $804,954.24. The disclosure for this sale can be found here. Insiders sold a total of 363,655 shares of company stock worth $25,882,838 in the last three months. Company insiders own 1.97% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Brown Advisory Inc. raised its position in shares of CarMax by 1.1% during the fourth quarter. Brown Advisory Inc. now owns 2,551,474 shares of the company’s stock worth $160,054,000 after purchasing an additional 26,977 shares during the period. Geode Capital Management LLC raised its position in shares of CarMax by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 2,190,864 shares of the company’s stock worth $137,181,000 after purchasing an additional 140,198 shares during the period. Northern Trust Corp raised its position in shares of CarMax by 2.8% during the fourth quarter. Northern Trust Corp now owns 1,962,841 shares of the company’s stock worth $123,129,000 after purchasing an additional 53,495 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CarMax by 20.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,504,891 shares of the company’s stock worth $94,404,000 after purchasing an additional 258,689 shares during the period. Finally, Norges Bank acquired a new stake in shares of CarMax during the fourth quarter worth $83,206,000.
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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