CarMax, Inc. (NYSE:KMX) Receives $75.50 Average Price Target from Analysts

Shares of CarMax, Inc. (NYSE:KMX) have earned a consensus rating of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $76.25.

KMX has been the subject of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Monday, June 24th. Needham & Company LLC reduced their target price on CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a report on Monday, June 24th. StockNews.com raised CarMax to a “sell” rating in a report on Tuesday, July 9th. Argus raised CarMax to a “hold” rating in a report on Tuesday, June 25th. Finally, Robert W. Baird reduced their target price on CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a report on Friday, April 12th.

Insider Buying and Selling

In related news, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares of the company’s stock, valued at $72,097.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Diane L. Cafritz sold 15,356 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the transaction, the executive vice president now directly owns 6,977 shares in the company, valued at $485,110.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the transaction, the senior vice president now owns 995 shares in the company, valued at $72,097.70. The disclosure for this sale can be found here. Insiders sold 165,578 shares of company stock valued at $13,102,364 over the last 90 days. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in CarMax during the fourth quarter worth approximately $288,278,000. Morningstar Investment Services LLC increased its stake in CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after acquiring an additional 1,326,840 shares during the last quarter. DAVENPORT & Co LLC increased its stake in CarMax by 1,327.3% during the first quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after acquiring an additional 951,558 shares during the last quarter. American Century Companies Inc. increased its stake in CarMax by 674.3% during the third quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock worth $57,059,000 after acquiring an additional 702,526 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in CarMax by 3,094.0% during the first quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after acquiring an additional 577,685 shares during the last quarter.

CarMax Stock Down 2.2 %

KMX stock opened at $80.01 on Friday. CarMax has a twelve month low of $59.66 and a twelve month high of $88.22. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. The firm has a market cap of $12.49 billion, a PE ratio of 31.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.69. The business has a 50 day moving average of $72.97 and a 200 day moving average of $74.14.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. During the same quarter last year, the company earned $1.16 EPS. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, research analysts forecast that CarMax will post 3.01 EPS for the current fiscal year.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.