CarMax (NYSE:KMX) Stock Rating Reaffirmed by Wedbush

Wedbush reaffirmed their outperform rating on shares of CarMax (NYSE:KMX) in a research note issued to investors on Wednesday, Benzinga reports. Wedbush currently has a $95.00 price objective on the stock.

A number of other equities analysts have also commented on KMX. Morgan Stanley reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of CarMax in a research note on Friday, June 21st. Argus upgraded shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. Oppenheimer reiterated an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. Truist Financial boosted their target price on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, BNP Paribas upgraded CarMax to a “strong sell” rating in a report on Friday, September 27th. Four equities research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $79.45.

CarMax Price Performance

KMX stock opened at $74.81 on Wednesday. The company has a market capitalization of $11.68 billion, a P/E ratio of 29.22, a PEG ratio of 1.46 and a beta of 1.68. The company has a fifty day moving average price of $78.05 and a 200-day moving average price of $75.39. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22.

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 the consensus estimate of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the prior year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts expect that CarMax will post 2.97 EPS for the current year.

Insider Activity

In related news, COO Charles Joseph Wilson sold 10,021 shares of the company’s 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 transaction, the chief operating officer now directly owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Charles Joseph Wilson sold 10,021 shares of the company’s 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 transaction, the chief operating officer now directly owns 15,609 shares of the company’s stock, valued at $1,249,032.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction 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 approximately $965,567.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CarMax

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baker Tilly Wealth Management LLC lifted its position in CarMax by 4.6% in the 2nd quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock valued at $217,000 after acquiring an additional 130 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of CarMax by 6.5% in the first quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock worth $188,000 after purchasing an additional 131 shares during the last quarter. Peoples Bank KS lifted its holdings in shares of CarMax by 10.0% in the second quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock valued at $108,000 after purchasing an additional 135 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of CarMax by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock valued at $456,000 after buying an additional 142 shares during the last quarter. Finally, Allegheny Financial Group LTD grew its holdings in CarMax by 4.1% during the second quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock worth $264,000 after buying an additional 143 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.