Needham & Company LLC Reiterates Buy Rating for CarMax (NYSE:KMX)

CarMax (NYSE:KMX)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They presently have a $90.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 19.81% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Morgan Stanley reissued an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research note on Friday, June 21st. JPMorgan Chase & Co. boosted their price target on CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Evercore ISI decreased their price objective on CarMax from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target on shares of CarMax in a research note on Friday, October 4th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, CarMax currently has an average rating of “Hold” and a consensus target price of $79.73.

CarMax Stock Up 0.4 %

KMX opened at $75.12 on Wednesday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The company has a market cap of $11.72 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.46 and a beta of 1.68. CarMax has a one year low of $59.66 and a one year high of $88.22. The business’s fifty day moving average is $78.04 and its two-hundred day moving average is $75.39.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, September 26th. The company reported $0.85 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 6.83% and a net margin of 1.61%. CarMax’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Analysts anticipate that CarMax will post 2.97 EPS for the current fiscal year.

Insider Activity at CarMax

In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction on 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 transaction, the executive vice president now owns 11,738 shares in the company, valued at $965,567.88. 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 this link. In other news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $965,567.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were 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 in the company, valued at $1,249,032.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of CarMax by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after buying an additional 222,132 shares during the last quarter. CWM LLC boosted its stake in CarMax by 149.7% in the 1st quarter. CWM LLC now owns 10,482 shares of the company’s stock worth $913,000 after purchasing an additional 6,285 shares during the period. GAMMA Investing LLC lifted its holdings in shares of CarMax by 6.5% in the first quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock valued at $188,000 after purchasing an additional 131 shares in the last quarter. Mather Group LLC. purchased a new stake in CarMax in the 1st quarter worth about $138,000. Finally, Park Avenue Securities LLC grew its position in CarMax by 61.2% during the first quarter. Park Avenue Securities LLC now owns 14,154 shares of the company’s stock valued at $1,233,000 after purchasing an additional 5,376 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.