CarMax (NYSE:KMX) Stock Rating Upgraded by UBS Group

CarMax (NYSE:KMX) was upgraded by investment analysts at UBS Group to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently weighed in on KMX. Argus raised CarMax to a “hold” rating in a research note on Thursday, April 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $41.00 price objective on shares of CarMax in a research note on Wednesday, April 15th. Barclays dropped their price objective on CarMax from $28.00 to $26.00 and set an “underweight” rating for the company in a research note on Thursday, April 16th. Robert W. Baird raised their price objective on CarMax from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $41.27.

CarMax Stock Up 3.7%

KMX opened at $43.83 on Wednesday. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.20 and a quick ratio of 0.49. The business has a 50 day simple moving average of $40.59 and a 200-day simple moving average of $41.17. The stock has a market capitalization of $6.22 billion, a P/E ratio of 27.40, a P/E/G ratio of 1.60 and a beta of 1.19. CarMax has a 12 month low of $30.26 and a 12 month high of $71.99.

CarMax (NYSE:KMX) last released its quarterly earnings data on Tuesday, April 14th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.12. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The firm had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the business posted $0.58 EPS. CarMax’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts anticipate that CarMax will post 2.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CarMax

Several hedge funds have recently bought and sold shares of the stock. Wellington Grp LLC increased its position in CarMax by 6,500.0% during the first quarter. Wellington Grp LLC now owns 726 shares of the company’s stock worth $30,000 after buying an additional 715 shares in the last quarter. Bank of America Corp DE increased its position in CarMax by 61.7% during the first quarter. Bank of America Corp DE now owns 1,687,359 shares of the company’s stock worth $70,160,000 after buying an additional 643,834 shares in the last quarter. Edgestream Partners L.P. purchased a new position in CarMax during the first quarter worth $4,755,000. Kentucky Retirement Systems purchased a new position in CarMax during the first quarter worth $767,000. Finally, Janus Henderson Group PLC increased its position in CarMax by 1.1% during the first quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company’s stock worth $190,471,000 after buying an additional 49,987 shares in the last quarter.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.