CarMax (NYSE:KMX) Stock Rating Upgraded by Argus

CarMax (NYSE:KMX) was upgraded by Argus to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other brokerages have also recently issued reports on KMX. JPMorgan Chase & Co. reduced their price objective on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Monday, April 15th. Royal Bank of Canada increased their price objective on shares of CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday. Robert W. Baird reduced their price objective on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday, April 12th. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of CarMax in a research note on Tuesday, June 18th. Finally, Truist Financial increased their price objective on shares of CarMax from $66.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, CarMax currently has an average rating of “Hold” and an average target price of $75.50.

CarMax Stock Up 1.3 %

Shares of KMX stock opened at $72.73 on Tuesday. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The stock has a market cap of $11.45 billion, a P/E ratio of 28.41, a P/E/G ratio of 1.41 and a beta of 1.69. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The company has a 50 day simple moving average of $70.45 and a two-hundred day simple moving average of $73.95.

CarMax (NYSE:KMX) last announced its earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The business had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis. On average, research analysts expect that CarMax will post 3.06 earnings per share for the current year.

Insider Buying and Selling at CarMax

In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the transaction, the executive vice president now owns 6,977 shares in the company, valued at $485,110.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

Several institutional investors have recently made changes to their positions in KMX. Mariner LLC lifted its holdings in shares of CarMax by 7.9% in the 3rd quarter. Mariner LLC now owns 14,478 shares of the company’s stock worth $1,024,000 after acquiring an additional 1,062 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of CarMax by 18.6% in the 3rd quarter. Bank of Nova Scotia now owns 15,829 shares of the company’s stock worth $1,120,000 after acquiring an additional 2,488 shares during the last quarter. Teza Capital Management LLC bought a new stake in shares of CarMax in the 3rd quarter worth about $668,000. Corton Capital Inc. bought a new stake in shares of CarMax in the 3rd quarter worth about $412,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of CarMax by 106.2% in the 3rd quarter. SRS Capital Advisors Inc. now owns 6,360 shares of the company’s stock worth $450,000 after acquiring an additional 3,276 shares during 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.