CarMax (NYSE:KMX) Price Target Raised to $79.00

CarMax (NYSE:KMX) had its target price boosted by Evercore ISI from $76.00 to $79.00 in a report released on Friday, Benzinga reports. The firm currently has an in-line rating on the stock.

A number of other brokerages have also recently weighed in on KMX. Truist Financial raised their price target on CarMax from $70.00 to $75.00 and gave the company a hold rating in a research report on Monday, September 23rd. Royal Bank of Canada raised their price target on CarMax from $73.00 to $75.00 and gave the company an outperform rating in a research report on Monday, June 24th. Morgan Stanley restated an overweight rating and issued a $80.00 price target on shares of CarMax in a research report on Friday, June 21st. JPMorgan Chase & Co. raised their price target on CarMax from $55.00 to $65.00 and gave the company an underweight rating in a research report on Thursday, September 19th. Finally, Argus upgraded CarMax to a hold rating in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $79.73.

CarMax Trading Down 1.1 %

NYSE:KMX opened at $77.32 on Friday. The stock has a fifty day moving average price of $79.71 and a two-hundred day moving average price of $76.28. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.56 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, sell-side analysts anticipate that CarMax will post 2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction dated 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 approximately $14,465,600.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other CarMax news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total value of $777,680.28. Following the completion of the sale, the chief financial officer now directly owns 20,260 shares in the company, valued at $1,690,899.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of CarMax

A number of hedge funds have recently added to or reduced their stakes in KMX. Vulcan Value Partners LLC boosted its stake in CarMax by 299.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after buying an additional 1,369,986 shares during the last quarter. Morningstar Investment Services LLC boosted its stake in CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after buying an additional 1,326,840 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in CarMax by 1,327.3% in the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after buying an additional 951,558 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of CarMax by 3,094.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock valued at $51,949,000 after purchasing an additional 577,685 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of CarMax by 87.6% in the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after purchasing an additional 541,967 shares in the last quarter.

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.