CarMax (NYSE:KMX) Upgraded to Overweight at Stephens

Stephens upgraded shares of CarMax (NYSE:KMX) from an equal weight rating to an overweight rating in a research report released on Wednesday, Marketbeat.com reports. Stephens currently has $90.00 target price on the stock, up from their prior target price of $86.00.

Several other research analysts have also weighed in on the company. Royal Bank of Canada increased their price objective on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Needham & Company LLC increased their price target on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Mizuho raised their price objective on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $90.18.

CarMax Stock Performance

CarMax stock opened at $75.92 on Wednesday. The firm has a 50 day simple moving average of $80.45 and a 200-day simple moving average of $79.29. The stock has a market cap of $11.68 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. CarMax has a 1-year low of $65.83 and a 1-year high of $91.25.

Insider Activity at CarMax

In related news, EVP James Lyski sold 57,986 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $81.35, for a total transaction of $4,717,161.10. Following the sale, the executive vice president now directly owns 22,803 shares in the company, valued at approximately $1,855,024.05. This represents a 71.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of CarMax stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total transaction of $407,150.00. Following the completion of the transaction, the chief financial officer now owns 20,260 shares of the company’s stock, valued at $1,649,771.80. This represents a 19.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,709 shares of company stock worth $7,642,379. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Large investors have recently bought and sold shares of the business. Cromwell Holdings LLC boosted its holdings in CarMax by 104.8% in the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after purchasing an additional 217 shares in the last quarter. True Wealth Design LLC lifted its position in shares of CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after buying an additional 436 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of CarMax in the 4th quarter valued at $53,000. Allworth Financial LP raised its stake in CarMax by 62.7% during the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after acquiring an additional 249 shares in the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of CarMax during the fourth quarter worth about $58,000.

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.