Evercore ISI Increases CarMax (NYSE:KMX) Price Target to $79.00

CarMax (NYSE:KMX) had its price objective raised by Evercore ISI from $76.00 to $79.00 in a research report sent to investors on Friday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other equities research analysts also recently commented on KMX. Mizuho dropped their target price on CarMax from $75.00 to $72.00 and set a neutral rating on the stock in a report on Tuesday, June 18th. Morgan Stanley restated an overweight rating and set a $80.00 price objective on shares of CarMax in a report on Friday, June 21st. Royal Bank of Canada lifted their price objective on CarMax from $73.00 to $75.00 and gave the stock an outperform rating in a report on Monday, June 24th. Needham & Company LLC lifted their price objective on CarMax from $87.00 to $90.00 and gave the stock a buy rating in a report on Friday. Finally, StockNews.com upgraded CarMax to a sell rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, CarMax currently has an average rating of Hold and a consensus target price of $79.73.

CarMax Stock Performance

Shares of NYSE:KMX opened at $77.32 on Friday. The company has a market cap of $12.07 billion, a P/E ratio of 30.20, a PEG ratio of 1.56 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. CarMax has a one year low of $59.66 and a one year high of $88.22. The business’s 50-day simple moving average is $79.71 and its 200 day simple moving average is $76.28.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company 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 business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. On average, sell-side analysts forecast that CarMax will post 2.99 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Charles Joseph Wilson sold 10,021 shares of the business’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 value of $801,880.42. Following the completion of the sale, the chief operating officer now directly owns 15,609 shares in the company, valued at approximately $1,249,032.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO William D. Nash sold 120,000 shares of the business’s 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 owns 181,683 shares in the company, valued at approximately $14,465,600.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the transaction, the chief operating officer now owns 15,609 shares of the company’s stock, valued at approximately $1,249,032.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Community Trust NA acquired a new position in CarMax during the 2nd quarter valued at approximately $29,000. Quarry LP boosted its position in CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares during the period. Blue Trust Inc. boosted its position in CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares during the period. Studio Investment Management LLC boosted its position in CarMax by 176.7% during the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after acquiring an additional 334 shares during the period. Finally, Headlands Technologies LLC acquired a new position in CarMax during the 1st quarter worth $55,000.

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.