CarMax (NYSE:KMX) Stock Rating Upgraded by Evercore ISI

CarMax (NYSE:KMX) was upgraded by equities researchers at Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Thursday, Marketbeat Ratings reports. The firm currently has a $110.00 price target on the stock, up from their previous price target of $90.00. Evercore ISI’s price target points to a potential upside of 29.05% from the stock’s current price.

Other research analysts have also issued reports about the stock. Wedbush restated an “outperform” rating and issued a $95.00 price objective on shares of CarMax in a report on Wednesday, October 16th. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. JPMorgan Chase & Co. upped their price objective on shares of CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Royal Bank of Canada upped their price objective on shares of CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, Truist Financial upped their target price on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, CarMax presently has a consensus rating of “Hold” and a consensus price target of $87.50.

CarMax Trading Down 1.5 %

NYSE:KMX opened at $85.24 on Thursday. The company has a fifty day moving average of $83.11 and a 200 day moving average of $79.68. CarMax has a 52 week low of $65.83 and a 52 week high of $91.25. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The firm has a market capitalization of $13.11 billion, a P/E ratio of 28.89, a P/E/G ratio of 1.66 and a beta of 1.72.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.62 by $0.19. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same period in the prior year, the business earned $0.52 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts predict that CarMax will post 3.25 earnings per share for the current year.

Insider Activity at CarMax

In related news, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the sale, the senior vice president now directly owns 227 shares of the company’s stock, valued at approximately $19,199.66. This represents a 95.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jill A. Livesay sold 13,009 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the sale, the vice president now directly owns 9,448 shares in the company, valued at $765,288. This trade represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 264,467 shares of company stock valued at $21,915,445. 1.66% of the stock is owned by insiders.

Institutional Trading of CarMax

A number of institutional investors have recently made changes to their positions in KMX. Catalyst Capital Advisors LLC purchased a new stake in shares of CarMax during the 3rd quarter valued at about $32,000. True Wealth Design LLC boosted its holdings in shares of CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after acquiring an additional 436 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in shares of CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after acquiring an additional 217 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of CarMax by 62.7% during the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after acquiring an additional 249 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of CarMax by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock valued at $57,000 after acquiring an additional 353 shares during 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.