CarMax (KMX) Now Covered by Analysts at Guggenheim

Guggenheim initiated coverage on shares of CarMax (NYSE:KMX) in a research note released on Monday morning, The Fly reports. The brokerage issued a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Credit Suisse Group raised shares of CarMax to a buy rating and set a $83.00 price objective on the stock in a research report on Monday, December 25th. Wedbush set a $75.00 price objective on shares of CarMax and gave the stock a buy rating in a research report on Friday, March 16th. TheStreet lowered shares of CarMax from a b- rating to a c+ rating in a research report on Thursday, February 22nd. Berenberg Bank raised shares of CarMax from a hold rating to a buy rating and set a $83.00 price objective on the stock in a research report on Monday, January 8th. Finally, William Blair reissued an outperform rating on shares of CarMax in a research report on Tuesday, March 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $78.85.

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Shares of KMX opened at $62.00 on Monday. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.57 and a current ratio of 2.61. CarMax has a twelve month low of $55.05 and a twelve month high of $77.64. The company has a market capitalization of $11,161.93, a price-to-earnings ratio of 16.73, a P/E/G ratio of 0.99 and a beta of 1.55.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, April 4th. The company reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.10). CarMax had a net margin of 3.88% and a return on equity of 21.09%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the firm posted $0.81 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. analysts anticipate that CarMax will post 4.32 earnings per share for the current year.

In related news, Director Thomas J. Folliard sold 50,583 shares of the business’s stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $60.78, for a total transaction of $3,074,434.74. Following the transaction, the director now directly owns 379,465 shares in the company, valued at $23,063,882.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Eric M. Margolin sold 20,000 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $71.78, for a total transaction of $1,435,600.00. Following the transaction, the executive vice president now owns 41,051 shares in the company, valued at $2,946,640.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,583 shares of company stock worth $5,570,515. 1.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of CarMax by 27.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,380 shares of the company’s stock valued at $217,000 after purchasing an additional 736 shares during the last quarter. Logan Capital Management Inc. increased its holdings in shares of CarMax by 6.3% in the fourth quarter. Logan Capital Management Inc. now owns 13,881 shares of the company’s stock valued at $891,000 after purchasing an additional 821 shares during the last quarter. Howland Capital Management LLC increased its holdings in shares of CarMax by 0.3% in the fourth quarter. Howland Capital Management LLC now owns 308,499 shares of the company’s stock valued at $19,784,000 after purchasing an additional 980 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of CarMax by 19.9% in the fourth quarter. Profund Advisors LLC now owns 6,225 shares of the company’s stock valued at $399,000 after purchasing an additional 1,032 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of CarMax by 7.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,475 shares of the company’s stock valued at $1,173,000 after purchasing an additional 1,066 shares during the last quarter.

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CarMax Company Profile

CarMax Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic and imported vehicles; sells vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and provides extended protection plans to customers at the time of sale.

The Fly

Analyst Recommendations for CarMax (NYSE:KMX)

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