CarMax (NYSE:KMX) Upgraded by Barclays to Equal Weight Rating

CarMax (NYSE:KMX) was upgraded by equities research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $61.00 price target on the stock. Barclays‘s target price points to a potential upside of 9.27% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird raised their target price on shares of CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a research note on Monday, July 6th. JPMorgan Chase & Co. raised their price objective on CarMax from $37.00 to $38.00 and gave the company an “underweight” rating in a research report on Thursday, June 18th. Mizuho lifted their target price on CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Benchmark reiterated a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $49.33.

CarMax Stock Down 2.6%

Shares of KMX opened at $55.83 on Tuesday. The business’s 50 day moving average is $48.07 and its 200 day moving average is $44.69. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. CarMax has a 12-month low of $30.26 and a 12-month high of $63.74. The company has a market capitalization of $7.92 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 1.85 and a beta of 1.17.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the prior year, the company posted $1.38 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts expect that CarMax will post 2.7 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Peter J. Bensen purchased 2,500 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the transaction, the director directly owned 24,796 shares in the company, valued at $1,294,351.20. This represents a 11.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Sona Chawla acquired 2,000 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average cost of $53.39 per share, with a total value of $106,780.00. Following the completion of the purchase, the director directly owned 21,702 shares of the company’s stock, valued at $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 13,900 shares of company stock valued at $735,574. 1.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KMX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in CarMax by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after acquiring an additional 173 shares during the period. Jones Financial Companies Lllp lifted its position in shares of CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after purchasing an additional 161 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of CarMax by 12.5% during the first quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock valued at $411,000 after purchasing an additional 585 shares during the period. Intech Investment Management LLC lifted its holdings in CarMax by 61.7% during the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock valued at $1,492,000 after buying an additional 7,307 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of CarMax during the first quarter valued at approximately $727,000.

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.