Evercore ISI Increases CarMax (NYSE:KMX) Price Target to $79.00

CarMax (NYSE:KMX) had its price target hoisted by research analysts at Evercore ISI from $76.00 to $79.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price indicates a potential upside of 5.76% from the stock’s current price.

KMX has been the topic of a number of other research reports. Wedbush reissued an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research note on Wednesday. Truist Financial raised their target price on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Argus raised shares of CarMax to a “hold” rating in a research note on Tuesday, June 25th. StockNews.com raised shares of CarMax to a “sell” rating in a research note on Friday, July 26th. Finally, BNP Paribas raised shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $79.73.

CarMax Stock Down 0.6 %

Shares of KMX opened at $74.70 on Thursday. The company’s fifty day moving average is $78.02 and its two-hundred day moving average is $75.31. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The firm has a market cap of $11.66 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the prior year, the business posted $0.75 EPS. The business’s revenue was down .9% on a year-over-year basis. Analysts forecast that CarMax will post 2.97 earnings per share for the current year.

Insider Transactions at CarMax

In other news, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction dated 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 directly owns 15,609 shares of the company’s stock, valued at $1,249,032.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KMX. Vulcan Value Partners LLC boosted its stake in 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. DAVENPORT & Co LLC boosted its stake in CarMax by 1,327.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock valued at $89,070,000 after purchasing an additional 951,558 shares during the period. Epoch Investment Partners Inc. boosted its stake in CarMax by 3,094.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock valued at $51,949,000 after purchasing an additional 577,685 shares during the period. Marshall Wace LLP boosted its stake in CarMax by 87.6% during the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after purchasing an additional 541,967 shares during the period. Finally, AQR Capital Management LLC boosted its stake in CarMax by 212.8% during the 2nd quarter. AQR Capital Management LLC now owns 488,836 shares of the company’s stock valued at $35,851,000 after purchasing an additional 332,574 shares during the period.

CarMax Company Profile

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.