CarMax (NYSE:KMX) PT Raised to $79.00

CarMax (NYSE:KMX) had its price objective lifted by stock analysts at Evercore ISI from $76.00 to $79.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price indicates a potential upside of 5.60% from the stock’s previous close.

A number of other brokerages have also issued reports on KMX. JPMorgan Chase & Co. increased their target price on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of CarMax in a research report on Wednesday. StockNews.com upgraded shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Finally, Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research report on Wednesday. Four analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CarMax currently has a consensus rating of “Hold” and an average price target of $79.73.

CarMax Stock Up 1.5 %

KMX stock opened at $74.81 on Thursday. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The firm’s 50-day simple moving average is $78.05 and its 200 day simple moving average is $75.39. The stock has a market cap of $11.68 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68.

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

Insiders Place Their Bets

In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the transaction, the chief operating officer now directly owns 15,609 shares in the company, valued at $1,249,032.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction that occurred on 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 directly owns 11,738 shares of the company’s stock, valued at $965,567.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Charles Joseph Wilson sold 10,021 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the sale, 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. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of CarMax by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after purchasing an additional 222,132 shares in the last quarter. First Pacific Advisors LP lifted its position in shares of CarMax by 2.0% in the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock worth $175,005,000 after purchasing an additional 47,184 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CarMax by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock worth $147,230,000 after purchasing an additional 51,397 shares in the last quarter. Vulcan Value Partners LLC lifted its position in shares of CarMax by 299.7% in the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after purchasing an additional 1,369,986 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of CarMax by 21.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,656,388 shares of the company’s stock worth $121,479,000 after purchasing an additional 288,165 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.