CarMax (NYSE:KMX) Price Target Raised to $82.00

CarMax (NYSE:KMX) had its price objective raised by Royal Bank of Canada from $75.00 to $82.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Wedbush reissued an outperform rating and set a $95.00 target price on shares of CarMax in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their target price on shares of CarMax from $55.00 to $65.00 and gave the company an underweight rating in a research report on Thursday, September 19th. StockNews.com upgraded shares of CarMax to a sell rating in a research report on Friday, July 26th. Truist Financial increased their price objective on shares of CarMax from $70.00 to $75.00 and gave the stock a hold rating in a research report on Monday, September 23rd. Finally, Argus raised CarMax to a hold rating in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $79.73.

CarMax Stock Performance

NYSE KMX opened at $77.38 on Friday. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The firm has a market capitalization of $12.08 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69. The stock’s fifty day moving average is $79.64 and its two-hundred day moving average is $76.26. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. CarMax’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. On average, research analysts anticipate that CarMax will post 2.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the transaction, the chief operating officer now owns 15,609 shares in the company, valued at approximately $1,249,032.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Charles Joseph Wilson sold 10,021 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the transaction, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The disclosure for this sale can be found here. Insiders have sold a total of 184,012 shares of company stock worth $14,803,843 in the last quarter. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Community Trust NA acquired a new stake in shares of CarMax during the second quarter worth about $29,000. Quarry LP lifted its stake in CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after buying an additional 184 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares during the period. Studio Investment Management LLC grew its position in shares of CarMax by 176.7% during the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after acquiring an additional 334 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of CarMax in the 1st quarter valued at $55,000.

CarMax Company Profile

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.