CarMax (NYSE:KMX) Hits New 12-Month High at $96.47

CarMax, Inc (NYSE:KMX) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $96.47 and last traded at $95.65, with a volume of 340834 shares trading hands. The stock had previously closed at $94.16.

A number of research analysts recently commented on KMX shares. Wedbush reissued a “neutral” rating on shares of CarMax in a report on Thursday, October 3rd. Morgan Stanley reduced their price target on CarMax from $99.00 to $97.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. ValuEngine downgraded CarMax from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Buckingham Research increased their price target on CarMax from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Stephens increased their price target on CarMax from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $95.42.

The stock has a market cap of $15.44 billion, a PE ratio of 20.02, a P/E/G ratio of 1.41 and a beta of 1.14. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.42 and a quick ratio of 0.56. The business has a fifty day moving average of $91.44 and a 200 day moving average of $85.25.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.06 billion. CarMax had a return on equity of 25.50% and a net margin of 4.60%. CarMax’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 earnings per share. On average, equities research analysts expect that CarMax, Inc will post 5.29 EPS for the current year.

In other CarMax news, SVP Darren C. Newberry sold 24,551 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $90.51, for a total transaction of $2,222,111.01. Following the sale, the senior vice president now owns 7,413 shares in the company, valued at $670,950.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.09% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. AdvisorNet Financial Inc raised its stake in CarMax by 86.9% during the second quarter. AdvisorNet Financial Inc now owns 398 shares of the company’s stock valued at $35,000 after buying an additional 185 shares in the last quarter. NuWave Investment Management LLC raised its stake in CarMax by 466.7% during the third quarter. NuWave Investment Management LLC now owns 425 shares of the company’s stock valued at $37,000 after buying an additional 350 shares in the last quarter. Hanson & Doremus Investment Management acquired a new stake in CarMax during the second quarter valued at approximately $51,000. Capital Investment Advisory Services LLC raised its stake in CarMax by 1,397.4% during the third quarter. Capital Investment Advisory Services LLC now owns 584 shares of the company’s stock valued at $51,000 after buying an additional 545 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its stake in CarMax by 6,633.3% during the second quarter. FNY Investment Advisers LLC now owns 588 shares of the company’s stock valued at $51,000 after buying an additional 597 shares in the last quarter.

About CarMax (NYSE:KMX)

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, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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