Needham & Company LLC Boosts CarMax (NYSE:KMX) Price Target to $90.00

CarMax (NYSE:KMX) had its target price boosted by Needham & Company LLC from $87.00 to $90.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

KMX has been the topic of several other reports. Oppenheimer reissued an outperform rating and issued a $105.00 target price on shares of CarMax in a research report on Monday, June 24th. 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. JPMorgan Chase & Co. increased their target price on CarMax from $55.00 to $65.00 and gave the company an underweight rating in a report on Thursday, September 19th. Wedbush reaffirmed an outperform rating and issued a $95.00 target price on shares of CarMax in a research report on Tuesday, September 17th. Finally, Mizuho dropped their price target on CarMax from $75.00 to $72.00 and set a neutral rating on the stock in a research report on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, CarMax has a consensus rating of Hold and an average target price of $79.73.

CarMax Price Performance

Shares of NYSE:KMX opened at $77.32 on Friday. The company has a market capitalization of $12.07 billion, a PE ratio of 30.20, a price-to-earnings-growth 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. The stock has a fifty day moving average of $79.71 and a 200-day moving average of $76.28. CarMax has a one year low of $59.66 and a one year high of $88.22.

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

Insider Buying and Selling at CarMax

In other 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 transaction of $9,554,400.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William D. Nash sold 120,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total transaction of $777,680.28. Following the transaction, the chief financial officer now directly owns 20,260 shares in the company, valued at approximately $1,690,899.60. The disclosure for this sale can be found here. Insiders have sold 184,012 shares of company stock worth $14,803,843 over the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CarMax

A number of large investors have recently bought and sold shares of the business. Baker Tilly Wealth Management LLC boosted its position in CarMax by 4.6% during the second quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock worth $217,000 after purchasing an additional 130 shares during the period. GAMMA Investing LLC boosted its holdings in shares of CarMax by 6.5% during the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock worth $188,000 after buying an additional 131 shares during the period. Peoples Bank KS boosted its holdings in shares of CarMax by 10.0% during the 2nd quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock worth $108,000 after buying an additional 135 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in CarMax by 2.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock valued at $456,000 after buying an additional 142 shares during the last quarter. Finally, Allegheny Financial Group LTD raised its holdings in CarMax by 4.1% in the 2nd quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock worth $264,000 after acquiring an additional 143 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.