Wedbush Reaffirms “Outperform” Rating for CarMax (NYSE:KMX)

CarMax (NYSE:KMX)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $90.00 price objective on the stock. Wedbush’s price target points to a potential upside of 43.50% from the stock’s current price. Wedbush also issued estimates for CarMax’s FY2027 earnings at $4.72 EPS.

A number of other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of CarMax from $103.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Robert W. Baird dropped their target price on shares of CarMax from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Needham & Company LLC decreased their price target on CarMax from $101.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. decreased their target price on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $87.73.

CarMax Trading Down 2.9 %

KMX stock traded down $1.87 during trading on Monday, reaching $62.72. 477,574 shares of the stock were exchanged, compared to its average volume of 2,080,179. CarMax has a 1 year low of $62.42 and a 1 year high of $91.25. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 1.67 and a beta of 1.58. The business has a 50 day moving average price of $76.62 and a 200-day moving average price of $78.79.

Insider Transactions at CarMax

In related news, SVP Tyler Tuite sold 4,869 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the sale, the senior vice president now owns 227 shares of the company’s stock, valued at $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

A number of large investors have recently modified their holdings of KMX. Cromwell Holdings LLC lifted its position in shares of CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after purchasing an additional 217 shares during the last quarter. Allworth Financial LP raised its stake in CarMax by 62.7% in the fourth quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after buying an additional 249 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in CarMax during the 4th quarter worth about $53,000. ST Germain D J Co. Inc. acquired a new position in shares of CarMax during the 4th quarter worth about $58,000. Finally, Colonial Trust Co SC increased its holdings in shares of CarMax by 2,310.0% in the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company’s stock valued at $59,000 after acquiring an additional 693 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.