CarMax’s (KMX) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of CarMax (NYSE:KMX) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $90.00 target price on the stock.

Several other brokerages have also recently issued reports on KMX. Mizuho lowered their price target on CarMax from $80.00 to $75.00 and set a neutral rating on the stock in a research report on Friday, April 12th. Oppenheimer reiterated an outperform rating and set a $105.00 price target on shares of CarMax in a research report on Tuesday, April 9th. Royal Bank of Canada restated an outperform rating and issued a $83.00 target price on shares of CarMax in a report on Monday, April 8th. Needham & Company LLC decreased their target price on CarMax from $99.00 to $91.00 and set a buy rating on the stock in a report on Friday, April 12th. Finally, Truist Financial decreased their target price on CarMax from $75.00 to $72.00 and set a hold rating on the stock in a report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $77.42.

CarMax Stock Down 0.9 %

Shares of CarMax stock opened at $67.91 on Tuesday. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22. The company has a market capitalization of $10.69 billion, a P/E ratio of 22.41, a PEG ratio of 1.10 and a beta of 1.61. The business’s fifty day moving average price is $78.55 and its two-hundred day moving average price is $72.04. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.26 and a quick ratio of 0.67.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts forecast that CarMax will post 3.48 EPS for the current year.

Insider Activity

In other news, EVP Diane L. Cafritz sold 2,730 shares of CarMax stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total transaction of $192,574.20. Following the transaction, the executive vice president now owns 5,073 shares in the company, valued at $357,849.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Diane L. Cafritz sold 2,730 shares of CarMax stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total transaction of $192,574.20. Following the completion of the sale, the executive vice president now owns 5,073 shares of the company’s stock, valued at $357,849.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Diane L. Cafritz sold 22,000 shares of CarMax stock in a transaction on Friday, January 26th. The shares were sold at an average price of $70.08, for a total value of $1,541,760.00. Following the sale, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at approximately $355,515.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,929 shares of company stock worth $2,740,901. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of CarMax

A number of institutional investors have recently bought and sold shares of KMX. ProVise Management Group LLC lifted its position in shares of CarMax by 31.5% in the third quarter. ProVise Management Group LLC now owns 58,701 shares of the company’s stock worth $4,152,000 after buying an additional 14,052 shares during the last quarter. Montag A & Associates Inc. lifted its position in shares of CarMax by 61.6% in the third quarter. Montag A & Associates Inc. now owns 49,985 shares of the company’s stock worth $3,535,000 after buying an additional 19,056 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of CarMax by 8.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 235,544 shares of the company’s stock worth $18,076,000 after buying an additional 18,914 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of CarMax by 6.9% in the third quarter. Corient Private Wealth LLC now owns 934,259 shares of the company’s stock worth $66,080,000 after buying an additional 60,604 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of CarMax by 3.1% in the third quarter. Invesco Ltd. now owns 2,938,541 shares of the company’s stock worth $207,843,000 after buying an additional 88,488 shares during the last quarter.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.