CarMax (NYSE:KMX) Earns Overweight Rating from Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of CarMax (NYSE:KMXFree Report) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $80.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Mizuho reduced their target price 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. Needham & Company LLC reduced their target price on shares of CarMax from $99.00 to $91.00 and set a buy rating for the company in a report on Friday, April 12th. Evercore ISI cut their price objective on shares of CarMax from $73.00 to $68.00 and set an in-line rating for the company in a report on Thursday. Royal Bank of Canada reaffirmed an outperform rating and set a $83.00 price objective on shares of CarMax in a report on Monday, April 8th. Finally, Oppenheimer reaffirmed an outperform rating and set a $105.00 price objective on shares of CarMax in a report on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $76.17.

Get Our Latest Research Report on KMX

CarMax Price Performance

NYSE KMX opened at $71.63 on Friday. The company has a 50-day moving average price of $70.25 and a 200-day moving average price of $73.88. The firm has a market capitalization of $11.27 billion, a P/E ratio of 23.64, a PEG ratio of 1.40 and a beta of 1.69. CarMax has a 52 week low of $59.66 and a 52 week high of $88.22. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMXGet Free Report) last released its earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.06). The firm had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 earnings per share. Equities research analysts anticipate that CarMax will post 3.06 earnings per share for the current year.

Insider Activity

In other news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was 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 directly owns 6,977 shares in the company, valued at approximately $485,110.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in CarMax by 6.5% in the first quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock worth $188,000 after buying an additional 131 shares during the last quarter. Czech National Bank lifted its position in CarMax by 0.5% in the fourth quarter. Czech National Bank now owns 27,789 shares of the company’s stock worth $2,133,000 after buying an additional 138 shares during the last quarter. Spire Wealth Management lifted its position in CarMax by 8.3% in the fourth quarter. Spire Wealth Management now owns 1,908 shares of the company’s stock worth $146,000 after buying an additional 147 shares during the last quarter. Lindbrook Capital LLC lifted its position in CarMax by 32.8% in the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after buying an additional 155 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CarMax by 0.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,223 shares of the company’s stock worth $1,782,000 after buying an additional 157 shares during the last quarter.

CarMax Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for CarMax (NYSE:KMX)

Receive News & Ratings for CarMax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax and related companies with MarketBeat.com's FREE daily email newsletter.