CarMax (NYSE:KMX) Upgraded at Stephens

Stephens upgraded shares of CarMax (NYSE:KMX) from an equal weight rating to an overweight rating in a report published on Wednesday morning, Marketbeat Ratings reports. They currently have $90.00 price objective on the stock, up from their previous price objective of $86.00.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Truist Financial lifted their price objective on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Evercore ISI dropped their target price on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Mizuho lifted their price target on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Finally, StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, CarMax currently has an average rating of “Hold” and an average price target of $90.18.

CarMax Trading Down 1.3 %

CarMax stock opened at $75.92 on Wednesday. The stock has a 50-day moving average price of $80.45 and a 200 day moving average price of $79.29. The company has a market capitalization of $11.68 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. CarMax has a 52 week low of $65.83 and a 52 week high of $91.25. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92.

Insider Activity at CarMax

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the sale, the senior vice president now directly owns 227 shares in the company, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the transaction, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at $1,649,771.80. The trade was a 19.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,709 shares of company stock valued at $7,642,379. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

A number of large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in CarMax by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after acquiring an additional 282,519 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of CarMax by 348.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock worth $539,213,000 after purchasing an additional 5,122,850 shares during the last quarter. State Street Corp grew its position in shares of CarMax by 0.6% in the third quarter. State Street Corp now owns 6,193,174 shares of the company’s stock valued at $479,228,000 after purchasing an additional 36,959 shares in the last quarter. Norges Bank purchased a new stake in shares of CarMax in the fourth quarter valued at approximately $423,187,000. Finally, Janus Henderson Group PLC increased its holdings in shares of CarMax by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company’s stock valued at $381,978,000 after purchasing an additional 29,715 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.