CarMax (NYSE:KMX) Rating Increased to Hold at StockNews.com

CarMax (NYSE:KMX) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Other research analysts have also issued reports about the stock. Truist Financial lifted their price objective on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Friday. BNP Paribas upgraded CarMax to a “strong sell” rating in a research report on Friday, September 27th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 target price on shares of CarMax in a research note on Friday, October 4th. Finally, Mizuho boosted their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, CarMax has a consensus rating of “Hold” and a consensus target price of $85.17.

CarMax Price Performance

Shares of CarMax stock traded up $0.04 during trading hours on Friday, reaching $84.27. The company’s stock had a trading volume of 4,188,560 shares, compared to its average volume of 1,945,593. The firm has a 50 day moving average price of $78.77 and a 200-day moving average price of $77.55. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. The stock has a market cap of $13.06 billion, a P/E ratio of 31.68, a P/E/G ratio of 1.76 and a beta of 1.71. CarMax has a one year low of $65.83 and a one year high of $91.25.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. The business had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. On average, analysts predict that CarMax will post 3.01 EPS for the current year.

Institutional Investors Weigh In On CarMax

Several large investors have recently modified their holdings of KMX. FMR LLC boosted its stake in shares of CarMax by 2,883.1% during the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after purchasing an additional 1,713,379 shares in the last quarter. Vulcan Value Partners LLC increased its holdings in shares of CarMax by 299.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after acquiring an additional 1,369,986 shares during the period. Holocene Advisors LP raised its position in shares of CarMax by 740.2% in the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock worth $73,274,000 after acquiring an additional 834,232 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of CarMax by 87.6% during the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after purchasing an additional 541,967 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in CarMax by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock valued at $114,471,000 after purchasing an additional 436,342 shares in the last quarter.

CarMax Company Profile

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.