Moffett Nathanson Initiates Coverage on CarMax (KMX)

Equities research analysts at Moffett Nathanson started coverage on shares of CarMax (NYSE:KMX) in a research report issued to clients and investors on Monday. The brokerage set a “neutral” rating on the stock.

Other analysts also recently issued reports about the stock. Citigroup upped their target price on shares of CarMax to $84.00 and gave the stock a “buy” rating in a research report on Monday, September 25th. Oppenheimer reaffirmed a “buy” rating on shares of CarMax in a research report on Friday, August 25th. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Friday, September 8th. Deutsche Bank reaffirmed a “buy” rating and issued a $84.00 target price on shares of CarMax in a research report on Monday, September 25th. Finally, Berenberg Bank started coverage on shares of CarMax in a research report on Wednesday, October 4th. They issued a “hold” rating and a $83.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $77.00.

Shares of CarMax (KMX) opened at $67.72 on Monday. The firm has a market cap of $12,892.55, a PE ratio of 19.43, a PEG ratio of 1.19 and a beta of 1.48. The company has a debt-to-equity ratio of 3.82, a current ratio of 2.33 and a quick ratio of 0.48. CarMax has a 1 year low of $54.29 and a 1 year high of $77.64.

CarMax (NYSE:KMX) last released its earnings results on Friday, September 22nd. The company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.03. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.26 billion. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. research analysts anticipate that CarMax will post 3.84 earnings per share for the current fiscal year.

In other CarMax news, SVP Mohammad Shamim sold 1,300 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $76.10, for a total transaction of $98,930.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas J. Folliard sold 16,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $68.39, for a total transaction of $1,094,240.00. Following the transaction, the director now owns 495,572 shares in the company, valued at approximately $33,892,169.08. The disclosure for this sale can be found here. Insiders have sold a total of 625,955 shares of company stock worth $46,214,378 over the last three months. 1.90% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Korea Investment CORP lifted its stake in CarMax by 140.5% during the 2nd quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock valued at $111,000 after acquiring an additional 1,033 shares during the period. State of Alaska Department of Revenue bought a new position in CarMax during the 2nd quarter valued at about $112,000. Tredje AP fonden bought a new position in CarMax during the 3rd quarter valued at about $144,000. Seven Eight Capital LP bought a new position in CarMax during the 2nd quarter valued at about $133,000. Finally, YorkBridge Wealth Partners LLC lifted its stake in CarMax by 1.3% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,331 shares of the company’s stock valued at $149,000 after acquiring an additional 29 shares during the period.

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About CarMax

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

Analyst Recommendations for CarMax (NYSE:KMX)

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