Wedbush Reiterates “Outperform” Rating for CarMax (NYSE:KMX)

CarMax (NYSE:KMX)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research report issued on Tuesday,Benzinga reports. They presently have a $100.00 price target on the stock. Wedbush’s target price indicates a potential upside of 27.03% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Evercore ISI decreased their price objective on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price objective on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. Mizuho raised their price objective on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Finally, Truist Financial increased their price target on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $90.64.

CarMax Trading Up 1.0 %

CarMax stock traded up $0.80 during midday trading on Tuesday, hitting $78.72. 350,623 shares of the stock were exchanged, compared to its average volume of 1,875,128. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The stock’s 50-day simple moving average is $80.44 and its 200 day simple moving average is $79.34. CarMax has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 1.67 and a beta of 1.76.

Insider Buying and Selling

In other news, EVP Mohammad Shamim sold 12,845 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $81.94, for a total value of $1,052,519.30. Following the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at $961,811.72. This trade represents a 52.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James Lyski sold 57,986 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 owns 22,803 shares of the company’s stock, valued at approximately $1,855,024.05. This represents a 71.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,709 shares of company stock worth $7,642,379 in the last three months. Corporate insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KMX. Centaurus Financial Inc. lifted its holdings in CarMax by 32.1% during the 4th quarter. Centaurus Financial Inc. now owns 9,969 shares of the company’s stock worth $815,000 after buying an additional 2,422 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new position in CarMax during the 4th quarter worth $1,131,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CarMax in the 4th quarter valued at about $8,848,000. Ameriflex Group Inc. acquired a new position in CarMax during the 4th quarter valued at about $53,000. Finally, Ascent Group LLC increased its stake in shares of CarMax by 7.0% during the fourth quarter. Ascent Group LLC now owns 54,315 shares of the company’s stock valued at $4,441,000 after acquiring an additional 3,530 shares during the period.

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.