CarMax (NYSE:KMX) Cut to C+ at TheStreet

CarMax (NYSE:KMXGet Rating) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Tuesday, TheStreetRatingsTable reports.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. lowered CarMax from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $130.00 to $110.00 in a research report on Wednesday. Citic Securities initiated coverage on CarMax in a research report on Friday, January 28th. They issued a “buy” rating and a $130.00 target price on the stock. StockNews.com started coverage on CarMax in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Robert W. Baird decreased their price target on CarMax from $140.00 to $120.00 in a research note on Wednesday. Finally, Seaport Res Ptn upgraded CarMax from a “neutral” rating to a “buy” rating in a research note on Thursday, January 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, CarMax has a consensus rating of “Hold” and an average price target of $130.64.

NYSE:KMX opened at $92.99 on Tuesday. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.86 and a beta of 1.45. CarMax has a 1-year low of $90.55 and a 1-year high of $155.98. The company has a current ratio of 3.20, a quick ratio of 0.63 and a debt-to-equity ratio of 3.47. The business’s fifty day moving average price is $103.06 and its 200 day moving average price is $122.77.

CarMax (NYSE:KMXGet Rating) last posted its quarterly earnings results on Tuesday, April 12th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.36). CarMax had a net margin of 3.61% and a return on equity of 22.74%. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The firm’s quarterly revenue was up 48.8% on a year-over-year basis. Equities analysts forecast that CarMax will post 6.98 earnings per share for the current year.

A number of large investors have recently made changes to their positions in KMX. First Trust Advisors LP lifted its position in shares of CarMax by 0.3% in the 1st quarter. First Trust Advisors LP now owns 65,476 shares of the company’s stock worth $4,570,000 after acquiring an additional 167 shares during the period. Morgan Stanley lifted its position in shares of CarMax by 48.1% in the 2nd quarter. Morgan Stanley now owns 968,113 shares of the company’s stock worth $125,031,000 after acquiring an additional 314,474 shares during the period. Bank of America Corp DE lifted its position in shares of CarMax by 19.8% in the 2nd quarter. Bank of America Corp DE now owns 2,608,685 shares of the company’s stock worth $336,910,000 after acquiring an additional 431,920 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of CarMax by 212.8% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 441 shares of the company’s stock worth $56,000 after acquiring an additional 300 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of CarMax by 0.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 95,276 shares of the company’s stock worth $12,192,000 after acquiring an additional 507 shares during the period. Hedge funds and other institutional investors own 94.32% of the company’s stock.

CarMax Company Profile (Get Rating)

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; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through whole auctions.

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