CarMax, Inc (NYSE:KMX) has been assigned an average recommendation of “Buy” from the sixteen brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $97.75.

A number of brokerages recently commented on KMX. JPMorgan Chase & Co. began coverage on shares of CarMax in a research note on Monday, June 1st. They set an “overweight” rating and a $105.00 price target on the stock. Argus upped their price target on shares of CarMax from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Royal Bank of Canada upped their price target on shares of CarMax from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. ValuEngine upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, TheStreet cut shares of CarMax from a “b-” rating to a “c+” rating in a research note on Friday, March 13th.

KMX traded up $0.57 during midday trading on Tuesday, reaching $89.55. The company had a trading volume of 987,270 shares, compared to its average volume of 1,916,812. The company has a debt-to-equity ratio of 4.15, a quick ratio of 1.20 and a current ratio of 2.85. The stock has a market cap of $14.08 billion, a PE ratio of 23.75, a P/E/G ratio of 2.32 and a beta of 1.71. CarMax has a 12-month low of $37.59 and a 12-month high of $103.18. The business has a 50-day moving average price of $87.44 and a two-hundred day moving average price of $82.96.

CarMax (NYSE:KMX) last released its earnings results on Friday, June 19th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.09. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.66 billion. CarMax had a net margin of 3.45% and a return on equity of 18.00%. The company’s quarterly revenue was down 48.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.59 earnings per share. On average, research analysts anticipate that CarMax will post 3.01 earnings per share for the current year.

In other CarMax news, EVP Eric M. Margolin sold 1,200 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $94.32, for a total value of $113,184.00. Following the sale, the executive vice president now directly owns 25,640 shares in the company, valued at approximately $2,418,364.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shira Goodman purchased 1,550 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was bought at an average cost of $63.91 per share, for a total transaction of $99,060.50. Following the acquisition, the director now directly owns 26,439 shares in the company, valued at $1,689,716.49. The disclosure for this purchase can be found here. Insiders sold a total of 77,785 shares of company stock worth $7,182,608 over the last quarter. Corporate insiders own 1.99% of the company’s stock.

Large investors have recently modified their holdings of the company. EPG Wealth Management LLC increased its holdings in shares of CarMax by 373.8% in the 1st quarter. EPG Wealth Management LLC now owns 507 shares of the company’s stock worth $28,000 after buying an additional 400 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of CarMax by 446.4% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 612 shares of the company’s stock worth $32,000 after buying an additional 500 shares during the last quarter. WASHINGTON TRUST Co bought a new position in shares of CarMax in the 1st quarter worth $34,000. Citizens Financial Group Inc RI increased its holdings in shares of CarMax by 658.3% in the 1st quarter. Citizens Financial Group Inc RI now owns 781 shares of the company’s stock worth $42,000 after buying an additional 678 shares during the last quarter. Finally, Fred Alger Management LLC increased its holdings in shares of CarMax by 145.0% in the 4th quarter. Fred Alger Management LLC now owns 877 shares of the company’s stock worth $77,000 after buying an additional 519 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.

About CarMax

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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Analyst Recommendations for CarMax (NYSE:KMX)

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