CarMax (NYSE:KMX) Price Target Increased to $79.00 by Analysts at Evercore ISI

CarMax (NYSE:KMX) had its price target hoisted by Evercore ISI from $76.00 to $79.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an in-line rating on the stock.

Several other research firms also recently weighed in on KMX. Oppenheimer reiterated an outperform rating and set a $105.00 target price on shares of CarMax in a research report on Monday, June 24th. Mizuho lowered their price objective on CarMax from $75.00 to $72.00 and set a neutral rating on the stock in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on shares of CarMax from $55.00 to $65.00 and gave the stock an underweight rating in a report on Thursday, September 19th. Morgan Stanley reaffirmed an overweight rating and set a $80.00 price target on shares of CarMax in a report on Friday, June 21st. Finally, Needham & Company LLC increased their price objective on shares of CarMax from $87.00 to $90.00 and gave the stock a buy rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $79.73.

CarMax Trading Up 0.1 %

CarMax stock opened at $77.38 on Friday. The business has a 50-day simple moving average of $79.64 and a two-hundred day simple moving average of $76.26. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. The company has a market cap of $12.08 billion, a P/E ratio of 30.23, a P/E/G ratio of 1.56 and a beta of 1.69.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. Analysts predict that CarMax will post 2.99 EPS for the current year.

Insider Buying and Selling

In other CarMax news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the sale, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO William D. Nash sold 120,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction that occurred on Friday, July 26th. The stock was 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 in the company, valued at approximately $965,567.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is owned by insiders.

Hedge Funds Weigh In On CarMax

Several institutional investors have recently bought and sold shares of KMX. Vulcan Value Partners LLC increased its holdings in shares of CarMax by 299.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after buying an additional 1,369,986 shares during the last quarter. Morningstar Investment Services LLC raised its position in CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after purchasing an additional 1,326,840 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of CarMax by 1,327.3% in the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock valued at $89,070,000 after purchasing an additional 951,558 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of CarMax by 3,094.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after purchasing an additional 577,685 shares during the period. Finally, Marshall Wace LLP increased its position in shares of CarMax by 87.6% during the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after purchasing an additional 541,967 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.