CarMax (NYSE:KMX) PT Raised to $79.00

CarMax (NYSE:KMX) had its target price lifted by Evercore ISI from $76.00 to $79.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price objective would suggest a potential upside of 2.17% from the stock’s current price.

KMX has been the subject of a number of other reports. Needham & Company LLC raised their price objective on CarMax from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial lifted 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. Morgan Stanley reissued an “overweight” rating and issued a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. StockNews.com raised shares of CarMax to a “sell” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, CarMax has an average rating of “Hold” and a consensus price target of $78.92.

CarMax Price Performance

Shares of KMX opened at $77.32 on Friday. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The company’s fifty day simple moving average is $79.71 and its 200 day simple moving average is $76.33. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.56 and a beta of 1.69.

CarMax (NYSE:KMX) last released 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 return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, research analysts forecast that CarMax will post 2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the transaction, the chief operating officer now directly owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Charles Joseph Wilson sold 10,021 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was 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 of the company’s stock, valued at approximately $1,249,032.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. The disclosure for this sale can be found here. Insiders have sold 184,012 shares of company stock valued at $14,803,843 over the last 90 days. 1.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CarMax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Community Trust NA bought a new stake in shares of CarMax during the second quarter worth $29,000. Quarry LP grew its position in CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares during the last quarter. Blue Trust Inc. raised its position 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 purchasing an additional 287 shares during the last quarter. Studio Investment Management LLC raised its position in CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of CarMax during 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.