Mizuho Increases CarMax (NYSE:KMX) Price Target to $80.00

CarMax (NYSE:KMX) had its price objective increased by equities researchers at Mizuho from $72.00 to $80.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price target would indicate a potential downside of 5.02% from the stock’s current price.

Several other equities analysts have also recently issued reports on KMX. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of CarMax in a report on Friday, October 4th. Evercore ISI boosted their target price on shares of CarMax from $83.00 to $85.00 and gave the company a “market perform” rating in a research note on Thursday. Truist Financial raised their price target on CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. upped their price objective on CarMax from $65.00 to $70.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.92.

CarMax Stock Performance

KMX stock opened at $84.23 on Friday. The stock’s 50 day simple moving average is $78.77 and its 200 day simple moving average is $77.55. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. CarMax has a 12-month low of $65.83 and a 12-month high of $91.25. The stock has a market capitalization of $13.05 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 1.76 and a beta of 1.71.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.19. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts forecast that CarMax will post 3.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KMX. FMR LLC lifted its holdings in CarMax by 2,883.1% during the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after purchasing an additional 1,713,379 shares in the last quarter. Vulcan Value Partners LLC raised its position in shares of CarMax by 299.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after purchasing an additional 1,369,986 shares during the period. Holocene Advisors LP lifted its stake in shares of CarMax by 740.2% during the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock valued at $73,274,000 after buying an additional 834,232 shares in the last quarter. Marshall Wace LLP boosted its holdings in CarMax by 87.6% in the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after buying an additional 541,967 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in CarMax by 41.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after buying an additional 436,342 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.