CarMax (NYSE:KMX) Upgraded at Argus

Argus upgraded shares of CarMax (NYSE:KMX) to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Several other research analysts also recently issued reports on KMX. JPMorgan Chase & Co. lifted their price objective on CarMax from $28.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday. Bank of America began coverage on CarMax in a research report on Wednesday. They set an “underperform” rating and a $40.00 price objective for the company. Royal Bank Of Canada restated a “sector perform” rating and set a $41.00 price objective on shares of CarMax in a research report on Wednesday. Stephens lifted their price objective on CarMax from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $41.21.

CarMax Price Performance

KMX stock opened at $40.90 on Thursday. The firm has a 50 day moving average of $42.64 and a 200-day moving average of $41.91. CarMax has a 12-month low of $30.26 and a 12-month high of $71.99. The company has a current ratio of 2.20, a quick ratio of 0.51 and a debt-to-equity ratio of 2.93. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.12 and a beta of 1.30.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.12. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The firm had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the firm posted $0.58 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts expect that CarMax will post 3.23 EPS for the current fiscal year.

Institutional Trading of CarMax

Several hedge funds and other institutional investors have recently bought and sold shares of KMX. Huntington National Bank grew its stake in CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in CarMax in the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc purchased a new stake in CarMax in the 2nd quarter worth approximately $30,000. Center for Financial Planning Inc. purchased a new stake in CarMax in the 3rd quarter worth approximately $31,000. Finally, Advisory Services Network LLC purchased a new stake in CarMax in the 3rd quarter worth approximately $32,000.

CarMax Company Profile

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.