CarMax (NYSE:KMX) Given Outperform Rating at Oppenheimer

Oppenheimer restated their outperform rating on shares of CarMax (NYSE:KMX) in a report released on Friday morning, Benzinga reports. Oppenheimer currently has a $105.00 price target on the stock.

A number of other analysts have also recently commented on KMX. Needham & Company LLC upped their price target on CarMax from $87.00 to $90.00 and gave the company a buy rating in a research note on Friday, September 27th. Wedbush reaffirmed an outperform rating and set a $95.00 price target on shares of CarMax in a research report on Tuesday, September 17th. Mizuho decreased their price objective on CarMax from $75.00 to $72.00 and set a neutral rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. raised their target price on shares of CarMax from $55.00 to $65.00 and gave the stock an underweight rating in a report on Thursday, September 19th. Finally, Morgan Stanley reissued an overweight rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Four research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $79.45.

CarMax Price Performance

NYSE:KMX traded down $1.10 during mid-day trading on Friday, reaching $73.09. 2,158,496 shares of the company were exchanged, compared to its average volume of 1,952,637. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The company has a fifty day moving average of $79.36 and a 200 day moving average of $76.22. The stock has a market cap of $11.41 billion, a PE ratio of 28.55, a PEG ratio of 1.56 and a beta of 1.68. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. CarMax’s revenue for the quarter was down .9% compared to the same quarter last year. On average, research analysts anticipate that CarMax will post 2.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,690,899.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other 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 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total transaction of $777,680.28. Following the sale, the chief financial officer now owns 20,260 shares in the company, valued at $1,690,899.60. This represents 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 in the last quarter. 1.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CarMax

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vulcan Value Partners LLC increased its position in CarMax by 299.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after purchasing an additional 1,369,986 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of CarMax by 1,327.3% during the first quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after buying an additional 951,558 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of CarMax by 3,094.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock valued at $51,949,000 after acquiring an additional 577,685 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of CarMax by 87.6% during the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after acquiring an additional 541,967 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in CarMax by 5,711.9% during the 4th quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock worth $32,781,000 after acquiring an additional 419,826 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.