Oppenheimer Reiterates Outperform Rating for CarMax (NYSE:KMX)

Oppenheimer reaffirmed their outperform rating on shares of CarMax (NYSE:KMX) in a research report report published on Friday, Benzinga reports. They currently have a $105.00 target price on the stock.

Several other brokerages have also commented on KMX. Royal Bank of Canada upped their price target on shares of CarMax from $75.00 to $82.00 and gave the stock an outperform rating in a research report on Friday, September 27th. StockNews.com upgraded CarMax to a sell rating in a report on Friday, July 26th. Truist Financial increased their target price on CarMax from $70.00 to $75.00 and gave the stock a hold rating in a research report on Monday, September 23rd. Evercore ISI lowered their price target on CarMax from $79.00 to $76.00 and set an in-line rating for the company in a research report on Thursday, October 3rd. Finally, Wedbush restated an outperform rating and set a $95.00 price target on shares of CarMax in a research note on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $79.45.

CarMax Price Performance

KMX stock opened at $72.27 on Friday. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.56 and a beta of 1.68. The stock’s fifty day simple moving average is $78.94 and its 200-day simple moving average is $75.99. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95.

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

Insider Activity at CarMax

In other CarMax news, CEO William D. Nash sold 120,000 shares of the business’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 transaction, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other CarMax news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John M. Stuckey III sold 19,673 shares of CarMax stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $82.01, for a total value of $1,613,382.73. Following the sale, the senior vice president now owns 969 shares in the company, valued at $79,467.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 184,012 shares of company stock valued at $14,803,843. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Eagle Rock Investment Company LLC acquired a new stake in shares of CarMax in the 3rd quarter valued at about $747,000. GAMMA Investing LLC increased its holdings in CarMax by 38.5% in the third quarter. GAMMA Investing LLC now owns 5,138 shares of the company’s stock valued at $398,000 after buying an additional 1,429 shares during the last quarter. Czech National Bank raised its stake in CarMax by 6.0% during the third quarter. Czech National Bank now owns 31,794 shares of the company’s stock valued at $2,460,000 after buying an additional 1,802 shares in the last quarter. waypoint wealth counsel bought a new position in CarMax during the 3rd quarter worth approximately $219,000. Finally, Eldred Rock Partners LLC grew its position in shares of CarMax by 4.3% in the 3rd quarter. Eldred Rock Partners LLC now owns 140,090 shares of the company’s stock worth $10,840,000 after acquiring an additional 5,742 shares in the last quarter.

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.