Oppenheimer upgraded shares of CarMax (NYSE:KMX) from a market perform rating to an outperform rating in a research note published on Thursday. The brokerage currently has $88.00 price target on the stock, up from their prior price target of $80.00. Oppenheimer also issued estimates for CarMax’s Q4 2018 earnings at $0.82 EPS, Q1 2019 earnings at $1.30 EPS, Q2 2019 earnings at $1.18 EPS, Q3 2019 earnings at $0.94 EPS, Q4 2019 earnings at $1.04 EPS and FY2020 earnings at $4.90 EPS.

Several other research analysts have also recently weighed in on KMX. Citigroup upped their price objective on CarMax to $84.00 and gave the stock a buy rating in a research report on Monday, September 25th. Goldman Sachs Group cut CarMax from a buy rating to a neutral rating and upped their price objective for the stock from $74.00 to $79.00 in a research report on Monday, September 25th. Royal Bank of Canada upped their price objective on CarMax from $77.00 to $83.00 and gave the stock an outperform rating in a research report on Monday, September 25th. Wedbush reaffirmed an outperform rating and set a $81.00 price objective (up from $77.00) on shares of CarMax in a research report on Monday, September 25th. Finally, Buckingham Research upped their price objective on CarMax from $66.00 to $75.00 and gave the stock a neutral rating in a research report on Monday, September 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $78.33.

CarMax (NYSE KMX) traded up $0.04 during mid-day trading on Thursday, hitting $70.58. The stock had a trading volume of 1,199,777 shares, compared to its average volume of 1,984,928. The company has a quick ratio of 0.51, a current ratio of 2.70 and a debt-to-equity ratio of 3.83. The firm has a market capitalization of $12,764.25, a PE ratio of 18.92, a P/E/G ratio of 1.24 and a beta of 1.48. CarMax has a 52 week low of $54.29 and a 52 week high of $77.64.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 21st. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $3.97 billion. CarMax had a return on equity of 21.77% and a net margin of 4.07%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 earnings per share. sell-side analysts anticipate that CarMax will post 3.84 earnings per share for the current fiscal year.

In other CarMax news, EVP Eric M. Margolin sold 4,453 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $75.30, for a total value of $335,310.90. Following the sale, the executive vice president now owns 22,051 shares in the company, valued at $1,660,440.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Folliard sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $64.04, for a total value of $512,320.00. The disclosure for this sale can be found here. Insiders have sold 72,037 shares of company stock valued at $5,140,835 over the last three months. Insiders own 1.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its stake in CarMax by 146.6% in the fourth quarter. State of Alaska Department of Revenue now owns 28,210 shares of the company’s stock valued at $1,808,000 after buying an additional 16,770 shares during the period. Schwab Charles Investment Management Inc. raised its stake in CarMax by 4.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 694,676 shares of the company’s stock valued at $44,550,000 after buying an additional 32,556 shares during the period. Marathon Asset Management LLP raised its stake in CarMax by 1.6% in the fourth quarter. Marathon Asset Management LLP now owns 753,447 shares of the company’s stock valued at $48,319,000 after buying an additional 12,139 shares during the period. Creative Planning raised its stake in CarMax by 34.4% in the fourth quarter. Creative Planning now owns 5,706 shares of the company’s stock valued at $366,000 after buying an additional 1,462 shares during the period. Finally, Bank of Montreal Can raised its stake in CarMax by 19.4% in the fourth quarter. Bank of Montreal Can now owns 132,461 shares of the company’s stock valued at $8,496,000 after buying an additional 21,500 shares during the period.

ILLEGAL ACTIVITY WARNING: This article was reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://theolympiareport.com/2018/01/21/carmax-kmx-upgraded-to-outperform-at-oppenheimer.html.

About CarMax

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

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.