CarMax (NYSE:KMX) PT Raised to $79.00

CarMax (NYSE:KMX) had its target price increased by investment analysts at Evercore ISI from $76.00 to $79.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective points to a potential upside of 5.60% from the company’s previous close.

A number of other equities analysts have also commented on KMX. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price target on shares of CarMax in a research report on Wednesday. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Morgan Stanley reissued an “overweight” rating and issued a $80.00 price target on shares of CarMax in a research report on Friday, June 21st. Truist Financial lifted their price target on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Argus raised shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, CarMax has a consensus rating of “Hold” and a consensus target price of $79.73.

CarMax Price Performance

Shares of KMX opened at $74.81 on Thursday. The firm has a market cap of $11.68 billion, a PE ratio of 29.22, a PEG ratio of 1.46 and a beta of 1.68. The firm’s 50 day moving average price is $78.05 and its 200 day moving average price is $75.39. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. CarMax has a twelve month low of $59.66 and a twelve month high of $88.22.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the previous year, the business posted $0.75 EPS. CarMax’s revenue was down .9% compared to the same quarter last year. As a group, research analysts expect that CarMax will post 2.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the sale, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Several large investors have recently made changes to their positions in KMX. First Community Trust NA acquired a new position in shares of CarMax during the second quarter valued at $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 period. Blue Trust Inc. lifted its stake in 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 buying an additional 287 shares during the period. Studio Investment Management LLC increased its holdings in shares of CarMax by 176.7% in 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 in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of CarMax in the first quarter worth about $55,000.

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.