CarMax’s (KMX) Outperform Rating Reiterated at Oppenheimer

by · The Markets Daily

Oppenheimer reaffirmed their outperform rating on shares of CarMax (NYSE:KMX – Free Report) in a research note released on Friday, Benzinga reports. Oppenheimer currently has a $105.00 price objective on the stock.

A number of other research analysts have also recently commented on KMX. Wedbush restated an outperform rating and issued a $95.00 target price on shares of CarMax in a research note on Tuesday, September 17th. Evercore ISI lowered their target price on CarMax from $79.00 to $76.00 and set an in-line rating for the company in a research note on Thursday. Truist Financial raised their target price on CarMax from $70.00 to $75.00 and gave the company a hold rating in a research note on Monday, September 23rd. Argus upgraded CarMax to a hold rating in a research note on Tuesday, June 25th. Finally, Needham & Company LLC raised their target price on CarMax from $87.00 to $90.00 and gave the company a buy rating in a research note on Friday, September 27th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $79.45.

Get Our Latest Stock Analysis on KMX

CarMax Price Performance

KMX opened at $73.09 on Friday. The stock’s 50 day simple moving average is $79.16 and its 200 day simple moving average is $76.14. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.56 and a beta of 1.68.

CarMax (NYSE:KMX – Get Free Report) last issued its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. CarMax’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, analysts predict that CarMax will post 2.99 earnings per share for the current year.

Insider Transactions at CarMax

In other news, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the transaction, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the transaction, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of CarMax stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total value of $777,680.28. Following the completion of the sale, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at $1,690,899.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,012 shares of company stock worth $14,803,843 over the last quarter. 1.66% of the stock is currently owned by insiders.

Institutional Trading of CarMax

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of CarMax by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after acquiring an additional 222,132 shares during the period. First Pacific Advisors LP grew its holdings in shares of CarMax by 2.0% in the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock worth $175,005,000 after acquiring an additional 47,184 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of CarMax by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock worth $147,230,000 after acquiring an additional 51,397 shares during the period. Vulcan Value Partners LLC grew its holdings in shares of CarMax by 299.7% in the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after acquiring an additional 1,369,986 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in CarMax by 21.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock valued at $121,479,000 after purchasing an additional 288,165 shares during the period.

CarMax Company Profile

(Get Free Report)

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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