Analysts Set CarMax, Inc (NYSE:KMX) Price Target at $97.58

Shares of CarMax, Inc (NYSE:KMX) have earned an average rating of “Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $97.58.

Several equities analysts recently issued reports on the stock. Wedbush boosted their target price on shares of CarMax from $80.00 to $98.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Buckingham Research boosted their target price on shares of CarMax from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. William Blair restated a “buy” rating on shares of CarMax in a report on Friday, December 6th. Stephens boosted their target price on shares of CarMax from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Morgan Stanley boosted their target price on shares of CarMax from $97.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th.

In other news, SVP Darren C. Newberry sold 24,551 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $90.51, for a total transaction of $2,222,111.01. Following the transaction, the senior vice president now owns 7,413 shares in the company, valued at $670,950.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.09% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brookstone Capital Management acquired a new position in shares of CarMax during the second quarter valued at about $290,000. Mackay Shields LLC raised its holdings in shares of CarMax by 9.8% during the third quarter. Mackay Shields LLC now owns 27,471 shares of the company’s stock valued at $2,417,000 after purchasing an additional 2,442 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of CarMax during the second quarter valued at about $379,000. National Pension Service raised its holdings in shares of CarMax by 5.4% in the 3rd quarter. National Pension Service now owns 271,386 shares of the company’s stock worth $23,882,000 after acquiring an additional 13,993 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of CarMax by 6,051.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 161,036 shares of the company’s stock worth $14,171,000 after acquiring an additional 158,418 shares during the last quarter.

KMX stock traded up $2.09 during midday trading on Friday, hitting $99.03. The stock had a trading volume of 810,600 shares, compared to its average volume of 1,567,341. The firm has a market cap of $16.01 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The company has a current ratio of 2.42, a quick ratio of 0.56 and a debt-to-equity ratio of 4.11. CarMax has a 1-year low of $55.24 and a 1-year high of $100.49. The business has a fifty day moving average price of $96.28 and a two-hundred day moving average price of $87.94.

CarMax (NYSE:KMX) last released its earnings results on Tuesday, September 24th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.07. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.06 billion. CarMax had a net margin of 4.60% and a return on equity of 25.50%. CarMax’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 earnings per share. On average, equities analysts anticipate that CarMax will post 5.31 EPS for the current year.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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Analyst Recommendations for CarMax (NYSE:KMX)

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