CarMax Inc (KMX) is Downgraded by Buckingham Research to Neutral

CarMax Inc (KMX) was Downgraded by Buckingham Research to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Buckingham Research advised their investors in a research report released on Sep 9, 2016.

Many Wall Street Analysts have commented on CarMax Inc. Susquehanna Initiated CarMax Inc on Aug 26, 2016 to “Positive”, Price Target of the shares are set at $70.Company shares were Reiterated by Wedbush on Aug 18, 2016 to “Neutral”, Firm has raised the Price Target to $ 55 from a previous price target of $44 .

On the company’s financial health, CarMax Inc reported $0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Jun 21, 2016. Analyst had a consensus of $0.92. The company had revenue of $4126.40 million for the quarter, compared to analysts expectations of $4203.38 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

CarMax Inc opened for trading at $59.66 and hit $60.81 on the upside on Wednesday, eventually ending the session at $60.6, with a gain of 1.81% or 1.08 points. The heightened volatility saw the trading volume jump to 3,740,857 shares. Company has a market cap of $11,603 M.

In a different news, on Aug 16, 2016, William C Jr. Wood (EVP & COO) sold 37,948 shares at $59.53 per share price. According to the SEC, on Aug 16, 2016, Eric M Margolin (EVP, Gen. Counsel & Secretary) sold 12,639 shares at $60.21 per share price. On Jul 27, 2016, Edwin J Hill (EVP) sold 51,875 shares at $57.59 per share price, according to the Form-4 filing with the securities and exchange commission.

CarMax Inc. (CarMax) is a holding company engaged in providing used vehicles and related products and services. The Company operates through two business 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. The CarMax Sales Operations segment sells used vehicles purchases used vehicles from customers and other sources sells related products and services and arranges financing options for customers. The Company’s CAF segment consists of its own finance operation that provides vehicle financing through CarMax stores. The CAF products and services include retail merchandising wholesale auctions extended protection plans (EPPs) reconditioning and service and customer credit.

CarMax Inc

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