CarMax’s (KMX) Market Perform Rating Reaffirmed at Oppenheimer

Oppenheimer reissued their market perform rating on shares of CarMax (NYSE:KMX) in a research report sent to investors on Friday, Marketbeat reports.

Several other analysts have also recently weighed in on the stock. Truist Financial raised their target price on shares of CarMax from $72.00 to $74.00 and gave the company a “hold” rating in a report on Monday, June 23rd. Stephens reduced their price objective on shares of CarMax from $81.00 to $74.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. Wedbush lowered shares of CarMax from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $84.00 to $54.00 in a report on Thursday. Benchmark started coverage on shares of CarMax in a report on Thursday, July 17th. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, Royal Bank Of Canada raised their price target on CarMax from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $67.42.

CarMax Trading Down 1.6%

NYSE KMX opened at $44.86 on Friday. The firm’s 50-day moving average is $58.59 and its two-hundred day moving average is $64.81. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 0.80. CarMax has a 12 month low of $42.75 and a 12 month high of $91.25. The stock has a market capitalization of $6.73 billion, a P/E ratio of 13.16, a PEG ratio of 0.74 and a beta of 1.35.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.39). The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $7.07 billion. CarMax had a return on equity of 8.51% and a net margin of 1.98%.CarMax’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. On average, sell-side analysts anticipate that CarMax will post 3.23 earnings per share for the current year.

Insider Buying and Selling at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the transaction, the executive vice president directly owned 2,779 shares in the company, valued at approximately $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of CarMax

Several large investors have recently modified their holdings of KMX. Norges Bank acquired a new stake in CarMax during the 2nd quarter valued at $208,144,000. AQR Capital Management LLC boosted its stake in shares of CarMax by 195.3% during the second quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock valued at $298,107,000 after acquiring an additional 2,947,996 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of CarMax by 1,410.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,028,718 shares of the company’s stock valued at $136,350,000 after acquiring an additional 1,894,408 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of CarMax by 795.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,846,406 shares of the company’s stock valued at $124,097,000 after acquiring an additional 1,640,219 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of CarMax by 626.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company’s stock valued at $70,364,000 after acquiring an additional 778,652 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.