CarMax (NYSE:KMX) Upgraded at Wall Street Zen

CarMax (NYSE:KMX) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also recently issued research reports about the company. Wedbush dropped their price objective on CarMax from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. William Blair cut CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday, November 6th. Mizuho dropped their price target on CarMax from $46.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, December 19th. Zacks Research upgraded CarMax from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $39.64.

CarMax Price Performance

Shares of KMX stock opened at $44.51 on Friday. The stock has a 50 day moving average price of $41.81 and a 200 day moving average price of $47.92. The firm has a market capitalization of $6.31 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.09 and a beta of 1.29. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99. CarMax has a 52-week low of $30.26 and a 52-week high of $89.47.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 18th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The firm had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.66 billion. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, sell-side analysts predict that CarMax will post 3.23 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of CarMax during the 2nd quarter valued at $5,758,000. Hantz Financial Services Inc. raised its stake in CarMax by 45.3% in the second quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock valued at $12,893,000 after buying an additional 59,840 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in CarMax in the second quarter valued at about $1,887,000. Gagnon Securities LLC boosted its holdings in CarMax by 3.9% in the second quarter. Gagnon Securities LLC now owns 163,417 shares of the company’s stock worth $10,983,000 after acquiring an additional 6,067 shares in the last quarter. Finally, True North Advisors LLC grew its stake in shares of CarMax by 66.6% during the third quarter. True North Advisors LLC now owns 123,742 shares of the company’s stock worth $5,552,000 after acquiring an additional 49,450 shares during the last quarter.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.