CarMax (NYSE:KMX) Now Covered by Analysts at Needham & Company LLC

Research analysts at Needham & Company LLC assumed coverage on shares of CarMax (NYSE:KMX – Get Rating) in a research note issued on Monday, The Fly reports. The firm set a “hold” rating on the stock.

A number of other equities research analysts have also recently weighed in on KMX. Bank of America cut CarMax from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $195.00 to $165.00 in a research note on Wednesday, April 6th. TheStreet cut CarMax from a “b-” rating to a “c+” rating in a research note on Tuesday, April 12th. JPMorgan Chase & Co. cut CarMax from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $130.00 to $110.00 in a research note on Wednesday, April 13th. Seaport Res Ptn raised CarMax from a “neutral” rating to a “buy” rating in a research note on Thursday, January 27th. Finally, Oppenheimer dropped their price objective on CarMax from $158.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, April 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $130.64.

KMX stock opened at $85.78 on Monday. The business has a fifty day moving average of $98.71 and a two-hundred day moving average of $119.07. The company has a quick ratio of 0.70, a current ratio of 3.20 and a debt-to-equity ratio of 3.47. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 0.85 and a beta of 1.45. CarMax has a 52-week low of $85.64 and a 52-week high of $155.98.

CarMax (NYSE:KMX – Get Rating) last posted its earnings results on Tuesday, April 12th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.36). The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. CarMax had a return on equity of 22.74% and a net margin of 3.61%. CarMax’s revenue was up 48.8% compared to the same quarter last year. During the same period last year, the business earned $1.27 EPS. As a group, sell-side analysts anticipate that CarMax will post 6.48 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in KMX. Capital Research Global Investors lifted its holdings in CarMax by 246.3% during the 4th quarter. Capital Research Global Investors now owns 5,916,243 shares of the company’s stock worth $770,472,000 after buying an additional 4,207,817 shares during the last quarter. Norges Bank purchased a new stake in CarMax during the 4th quarter worth about $100,370,000. The Manufacturers Life Insurance Company lifted its holdings in CarMax by 22.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,121,262 shares of the company’s stock worth $527,356,000 after buying an additional 745,024 shares during the last quarter. Caledonia Private Investments Pty Ltd lifted its holdings in CarMax by 24.9% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 2,306,124 shares of the company’s stock worth $300,327,000 after buying an additional 460,010 shares during the last quarter. Finally, Tesco Pension Investment Ltd lifted its holdings in shares of CarMax by 49.8% in the 3rd quarter. Tesco Pension Investment Ltd now owns 1,124,944 shares of the company’s stock valued at $143,948,000 after purchasing an additional 374,209 shares during the last quarter. 96.10% of the stock is owned by institutional investors.

About CarMax (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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