CarMax (NYSE:KMX) Price Target Raised to $74.00

CarMax (NYSE:KMX) had its price target lifted by Truist Financial from $72.00 to $74.00 in a research note released on Monday,Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also issued research reports about the stock. Cfra Research upgraded shares of CarMax to a “strong-buy” rating in a research note on Thursday, April 10th. Robert W. Baird lowered their price target on shares of CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Wedbush reissued an “outperform” rating and issued a $90.00 price objective on shares of CarMax in a report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. dropped their target price on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CarMax presently has an average rating of “Moderate Buy” and an average price target of $85.10.

CarMax Stock Down 2.4%

Shares of KMX stock opened at $67.53 on Monday. CarMax has a fifty-two week low of $61.34 and a fifty-two week high of $91.25. The firm has a market capitalization of $10.31 billion, a PE ratio of 18.65, a P/E/G ratio of 1.13 and a beta of 1.38. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. The stock’s 50-day simple moving average is $65.70 and its 200-day simple moving average is $75.12.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. CarMax’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts expect that CarMax will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mitchell D. Steenrod purchased 1,300 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average price of $65.49 per share, with a total value of $85,137.00. Following the purchase, the director now owns 33,577 shares of the company’s stock, valued at $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CarMax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KMX. Norges Bank purchased a new stake in shares of CarMax during the fourth quarter worth about $423,187,000. Kovitz Investment Group Partners LLC boosted its holdings in CarMax by 348.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock worth $539,213,000 after buying an additional 5,122,850 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in CarMax by 626.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company’s stock worth $70,364,000 after buying an additional 778,652 shares during the last quarter. AQR Capital Management LLC increased its stake in CarMax by 82.9% during the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company’s stock worth $114,465,000 after buying an additional 634,390 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in CarMax by 8,675.6% during the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company’s stock worth $40,193,000 after buying an additional 509,952 shares in the last quarter.

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.