CarMax (NYSE:KMX) Upgraded by Barclays to Equal Weight Rating

Barclays upgraded shares of CarMax (NYSE:KMX) from an underweight rating to an equal weight rating in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have $61.00 target price on the stock, up from their previous target price of $37.00.

A number of other equities research analysts have also weighed in on KMX. Argus upgraded shares of CarMax to a “hold” rating in a report on Thursday, April 16th. Benchmark restated a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. Morgan Stanley lifted their price objective on shares of CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Bank of America increased their target price on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $49.33.

CarMax Stock Performance

NYSE KMX opened at $57.48 on Tuesday. The company has a fifty day simple moving average of $48.45 and a 200 day simple moving average of $44.82. CarMax has a 12-month low of $30.26 and a 12-month high of $63.74. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. The company has a market cap of $8.16 billion, a P/E ratio of 37.57, a PEG ratio of 1.80 and a beta of 1.17.

CarMax (NYSE:KMX) last released its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.35. The firm had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 earnings per share. Sell-side analysts predict that CarMax will post 2.7 earnings per share for the current fiscal year.

Insider Activity

In other CarMax news, Director Sona Chawla bought 2,000 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was purchased at an average cost of $53.39 per share, with a total value of $106,780.00. Following the transaction, the director directly owned 21,702 shares in the company, valued at $1,158,669.78. This trade represents a 10.15% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter J. Bensen bought 2,500 shares of the stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the purchase, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 13,900 shares of company stock valued at $735,574 in the last ninety days. 1.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC bought a new position in shares of CarMax during the 2nd quarter valued at approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of CarMax in the 2nd quarter worth approximately $30,000. Basecamp Wealth Advisors LLC lifted its stake in CarMax by 105.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 327 shares during the last quarter. Huntington National Bank grew its holdings in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares during the period. Finally, Advisory Services Network LLC bought a new position in CarMax during the third quarter valued at $32,000.

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.