CarMax (NYSE:KMX) Upgraded to Strong Sell at BNP Paribas

BNP Paribas upgraded shares of CarMax (NYSE:KMX) to a strong sell rating in a research note issued to investors on Friday morning, Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. increased their target price on CarMax from $55.00 to $65.00 and gave the stock an underweight rating in a research note on Thursday, September 19th. Evercore ISI increased their price objective on shares of CarMax from $76.00 to $79.00 and gave the company an in-line rating in a research report on Friday. Royal Bank of Canada lifted their target price on shares of CarMax from $75.00 to $82.00 and gave the stock an outperform rating in a report on Friday. StockNews.com upgraded shares of CarMax to a sell rating in a report on Friday, July 26th. Finally, Mizuho decreased their price objective on shares of CarMax from $75.00 to $72.00 and set a neutral rating for the company in a report on Tuesday, June 18th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CarMax has an average rating of Hold and an average target price of $79.73.

CarMax Trading Up 0.1 %

Shares of NYSE KMX opened at $77.38 on Friday. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The firm has a 50-day moving average of $79.64 and a 200 day moving average of $76.26. The stock has a market cap of $12.08 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company 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%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. As a group, sell-side analysts expect that CarMax will post 2.99 EPS for the current fiscal year.

Insider Transactions at CarMax

In related news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CarMax news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total transaction of $777,680.28. Following the completion of the sale, the chief financial officer now owns 20,260 shares of the company’s stock, valued at $1,690,899.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Insiders have sold 184,012 shares of company stock worth $14,803,843 in the last quarter. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KMX. First Community Trust NA purchased a new stake in shares of CarMax in the second quarter worth $29,000. Quarry LP raised its holdings in CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after acquiring an additional 184 shares during the period. Blue Trust Inc. raised its holdings in CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares during the period. Studio Investment Management LLC lifted its position in shares of CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after acquiring an additional 334 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of CarMax in the first quarter worth about $55,000.

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.