CarMax (NYSE:KMX) Given New $85.00 Price Target at Evercore ISI

CarMax (NYSE:KMX) had its target price lifted by investment analysts at Evercore ISI from $83.00 to $85.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “market perform” rating on the stock. Evercore ISI’s price objective suggests a potential upside of 0.43% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of CarMax in a report on Wednesday, October 16th. Wedbush reissued an “outperform” rating and set a $95.00 price objective on shares of CarMax in a report on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and set a $82.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. BNP Paribas upgraded CarMax to a “strong sell” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. boosted their price target on CarMax from $65.00 to $70.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $82.58.

CarMax Stock Performance

Shares of NYSE KMX traded up $3.22 during trading hours on Thursday, reaching $84.64. 2,028,177 shares of the stock were exchanged, compared to its average volume of 1,920,923. The stock’s fifty day simple moving average is $78.50 and its 200 day simple moving average is $77.50. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 1.76 and a beta of 1.71. CarMax has a 52 week low of $65.83 and a 52 week high of $91.25. 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 (NYSE:KMX) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.19. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that CarMax will post 3.01 EPS for the current year.

Hedge Funds Weigh In On CarMax

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of CarMax by 13.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 233,866 shares of the company’s stock worth $17,152,000 after buying an additional 27,122 shares during the period. Fifth Third Bancorp raised its holdings in CarMax by 2.0% during the 2nd quarter. Fifth Third Bancorp now owns 9,008 shares of the company’s stock valued at $661,000 after buying an additional 177 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in CarMax by 52.5% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 10,734 shares of the company’s stock valued at $787,000 after buying an additional 3,695 shares during the period. Finally, &PARTNERS grew its holdings in CarMax by 197.4% in the 2nd quarter. &PARTNERS now owns 7,525 shares of the company’s stock worth $552,000 after acquiring an additional 4,995 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.