Truist Financial Forecasts Strong Price Appreciation for CarMax (NYSE:KMX) Stock

CarMax (NYSE:KMX) had its target price lifted by Truist Financial from $72.00 to $88.00 in a research report report published on Friday,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Mizuho boosted their price target on shares of CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Evercore ISI lifted their price target on CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a research report on Thursday. Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their target price on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, CarMax has an average rating of “Hold” and a consensus price target of $85.17.

CarMax Stock Performance

Shares of NYSE KMX opened at $84.27 on Friday. The firm’s fifty day moving average is $79.01 and its two-hundred day moving average is $77.69. CarMax has a 52-week low of $65.83 and a 52-week high of $91.25. The company has a market cap of $13.06 billion, a P/E ratio of 31.68, a P/E/G ratio of 1.76 and a beta of 1.71. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that CarMax will post 3.01 EPS for the current fiscal year.

Institutional Trading of CarMax

A number of large investors have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas purchased a new stake in CarMax in the 3rd quarter valued at about $2,229,000. Franklin Resources Inc. boosted its holdings in shares of CarMax by 53.3% in the third quarter. Franklin Resources Inc. now owns 27,362 shares of the company’s stock valued at $1,999,000 after purchasing an additional 9,509 shares during the period. Tidal Investments LLC grew its stake in CarMax by 141.8% in the third quarter. Tidal Investments LLC now owns 13,019 shares of the company’s stock worth $1,007,000 after purchasing an additional 7,635 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in CarMax during the 3rd quarter worth $351,000. Finally, World Investment Advisors LLC bought a new stake in CarMax during the 3rd quarter valued at $6,942,000.

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.