CarMax (NYSE:KMX) Earns Overweight Rating from Stephens

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CarMax (NYSE:KMX - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities research analysts at Stephens in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $81.00 price objective on the stock. Stephens' price target would indicate a potential upside of 36.67% from the stock's previous close.

KMX has been the topic of a number of other reports. Mizuho dropped their target price on CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Evercore ISI lowered their price objective on CarMax from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Royal Bank Of Canada raised their target price on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Finally, Benchmark assumed coverage on CarMax in a research note on Thursday, July 17th. They issued a "buy" rating and a $75.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $81.50.

CarMax Trading Up 1.4%

NYSE:KMX opened at $59.27 on Tuesday. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 0.94 and a beta of 1.36. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. The business has a fifty day moving average price of $63.08 and a 200-day moving average price of $69.50. CarMax has a one year low of $54.53 and a one year high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. CarMax's quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts forecast that CarMax will post 3.23 EPS for the current year.

Insider Activity 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 completion of the sale, the executive vice president directly owned 2,779 shares in the company, valued at $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On CarMax

Several hedge funds and other institutional investors have recently modified their holdings of KMX. Zions Bancorporation National Association UT acquired a new position in shares of CarMax in the 1st quarter valued at $27,000. CYBER HORNET ETFs LLC bought a new stake in CarMax in the 2nd quarter valued at $28,000. Accent Capital Management LLC bought a new position in CarMax in the 1st quarter valued at about $34,000. MUFG Securities EMEA plc bought a new position in CarMax during the 2nd quarter worth $30,000. Finally, Strengthening Families & Communities LLC boosted its holdings in CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock valued at $39,000 after purchasing an additional 256 shares during the period.

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.

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