CarMax (NYSE:KMX) Price Target Raised to $90.00

CarMax (NYSE:KMX) had its price target hoisted by Needham & Company LLC from $87.00 to $90.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on KMX. StockNews.com upgraded shares of CarMax to a sell rating in a research note on Friday, July 26th. Morgan Stanley reiterated an overweight rating and set a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Wedbush reissued an outperform rating and issued a $95.00 price target on shares of CarMax in a research report on Tuesday, September 17th. Mizuho cut their price target on shares of CarMax from $75.00 to $72.00 and set a neutral rating for the company in a research note on Tuesday, June 18th. Finally, Royal Bank of Canada upped their price objective on CarMax from $73.00 to $75.00 and gave the company an outperform rating in a research note on Monday, June 24th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, CarMax has an average rating of Hold and an average price target of $79.73.

CarMax Stock Down 1.1 %

NYSE KMX opened at $77.32 on Friday. CarMax has a twelve month low of $59.66 and a twelve month high of $88.22. The stock has a market cap of $12.07 billion, a PE ratio of 30.20, a PEG ratio of 1.56 and a beta of 1.69. The firm has a 50-day simple moving average of $79.71 and a 200 day simple moving average of $76.28. 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 (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. CarMax’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 EPS. On average, research analysts forecast that CarMax will post 2.99 EPS for the current year.

Insider Buying and Selling

In other news, CEO William D. Nash sold 120,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total transaction of $777,680.28. Following the completion of the sale, the chief financial officer now owns 20,260 shares of the company’s stock, valued at approximately $1,690,899.60. The disclosure for this sale can be found here. Insiders have sold a total of 184,012 shares of company stock worth $14,803,843 in the last three months. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Centaurus Financial Inc. boosted its position in CarMax by 49.9% in the 2nd quarter. Centaurus Financial Inc. now owns 6,861 shares of the company’s stock valued at $503,000 after buying an additional 2,284 shares during the last quarter. Sanctuary Advisors LLC bought a new position in CarMax in the second quarter valued at about $814,000. Cetera Investment Advisers increased its position in CarMax by 12.3% in the second quarter. Cetera Investment Advisers now owns 141,266 shares of the company’s stock worth $10,360,000 after purchasing an additional 15,476 shares during the period. Truist Financial Corp raised its holdings in CarMax by 1.3% during the 2nd quarter. Truist Financial Corp now owns 74,647 shares of the company’s stock worth $5,475,000 after purchasing an additional 951 shares during the last quarter. Finally, Quarry LP lifted its position in CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after purchasing an additional 184 shares during the period.

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.