Credit Suisse Group Upgrades CarMax (NYSE:KMX) to Buy

Credit Suisse Group upgraded shares of CarMax (NYSE:KMX) to a buy rating in a report released on Monday, December 25th. They currently have $83.00 price objective on the stock.

KMX has been the topic of a number of other reports. Oppenheimer reissued a buy rating on shares of CarMax in a research note on Friday, September 1st. Deutsche Bank dropped their price target on CarMax from $84.00 to $76.00 and set a hold rating on the stock in a research note on Sunday, November 26th. CIBC reissued a market perform rating on shares of CarMax in a research note on Thursday, October 5th. Wedbush reaffirmed an outperform rating and issued a $81.00 target price on shares of CarMax in a report on Friday, December 22nd. Finally, Zacks Investment Research lowered CarMax from a buy rating to a hold rating in a report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $77.07.

Shares of CarMax (NYSE KMX) opened at $72.33 on Monday. CarMax has a 52-week low of $54.29 and a 52-week high of $77.64. The firm has a market capitalization of $13,080.00, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.19 and a beta of 1.48. The company has a current ratio of 2.70, a quick ratio of 0.51 and a debt-to-equity ratio of 3.83.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 21st. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $3.97 billion. CarMax had a net margin of 4.07% and a return on equity of 21.77%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. analysts forecast that CarMax will post 3.86 earnings per share for the current fiscal year.

In related news, Director William R. Tiefel sold 13,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $75.30, for a total value of $978,900.00. Following the sale, the director now directly owns 151,659 shares of the company’s stock, valued at $11,419,922.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric M. Margolin sold 4,453 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $75.30, for a total value of $335,310.90. Following the completion of the sale, the executive vice president now directly owns 22,051 shares in the company, valued at $1,660,440.30. The disclosure for this sale can be found here. Insiders sold 65,453 shares of company stock worth $4,684,291 in the last quarter. 1.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Strs Ohio lifted its holdings in shares of CarMax by 129.6% during the second quarter. Strs Ohio now owns 6,306 shares of the company’s stock valued at $397,000 after purchasing an additional 3,560 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of CarMax by 21.4% during the second quarter. Canada Pension Plan Investment Board now owns 18,794 shares of the company’s stock valued at $1,185,000 after purchasing an additional 3,308 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of CarMax by 3.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 643,066 shares of the company’s stock valued at $40,552,000 after purchasing an additional 24,390 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of CarMax during the second quarter valued at approximately $1,638,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of CarMax by 0.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 544,445 shares of the company’s stock valued at $34,333,000 after purchasing an additional 2,322 shares during the last quarter.

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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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