CarMax (NYSE:KMX) Price Target Increased to $75.00 by Analysts at Truist Financial

CarMax (NYSE:KMX) had its price objective raised by Truist Financial from $70.00 to $75.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research analysts have also recently weighed in on KMX. StockNews.com upgraded CarMax to a sell rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on CarMax from $55.00 to $65.00 and gave the company an underweight rating in a report on Thursday, September 19th. Evercore ISI lifted their price target on CarMax from $68.00 to $72.00 and gave the stock an in-line rating in a report on Tuesday, July 16th. Oppenheimer reissued an outperform rating and issued a $105.00 price objective on shares of CarMax in a report on Monday, June 24th. Finally, Mizuho reduced their target price on shares of CarMax from $75.00 to $72.00 and set a neutral rating on the stock in a research note on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $77.50.

CarMax Stock Up 0.5 %

Shares of KMX opened at $76.45 on Monday. The stock has a 50 day moving average price of $80.15 and a 200 day moving average price of $76.43. CarMax has a one year low of $59.66 and a one year high of $88.22. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.53 and a beta of 1.69.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 earnings per share. Equities research analysts forecast that CarMax will post 2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction 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 of the company’s stock, valued at $965,567.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the completion of the transaction, the chief financial officer now owns 20,260 shares of the company’s stock, valued at $1,690,899.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. The disclosure for this sale can be found here. Insiders have sold 185,243 shares of company stock worth $14,893,042 over the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Several institutional investors have recently modified their holdings of KMX. Vanguard Group Inc. boosted its holdings in CarMax by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after purchasing an additional 222,132 shares during the period. Morningstar Investment Services LLC grew its position in shares of CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after buying an additional 1,326,840 shares in the last quarter. First Pacific Advisors LP increased its stake in shares of CarMax by 2.0% during the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock worth $175,005,000 after buying an additional 47,184 shares during the period. Dimensional Fund Advisors LP raised its holdings in CarMax by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock valued at $147,230,000 after acquiring an additional 51,397 shares in the last quarter. Finally, Vulcan Value Partners LLC lifted its stake in CarMax by 299.7% in the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after acquiring an additional 1,369,986 shares during the last quarter.

CarMax Company Profile

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.