CarMax (NYSE:KMX) PT Raised to $70.00

CarMax (NYSE:KMX) had its price objective upped by equities researchers at Truist Financial from $66.00 to $70.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential downside of 2.47% from the company’s current price.

A number of other analysts also recently commented on the company. Evercore ISI decreased their price target on CarMax from $73.00 to $68.00 and set an “in-line” rating for the company in a research report on Thursday, June 20th. Bank of America increased their price target on CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price target on shares of CarMax in a research report on Friday, June 21st. Needham & Company LLC decreased their price target on CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Monday. Finally, StockNews.com raised CarMax to a “sell” rating in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, CarMax presently has an average rating of “Hold” and an average price target of $75.50.

CarMax Stock Down 1.9 %

KMX stock opened at $71.77 on Monday. CarMax has a twelve month low of $59.66 and a twelve month high of $88.22. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. The stock’s 50 day moving average is $70.36 and its 200-day moving average is $73.95. The firm has a market capitalization of $11.30 billion, a PE ratio of 28.04, a P/E/G ratio of 1.41 and a beta of 1.69.

CarMax (NYSE:KMX) last posted its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the company earned $1.16 earnings per share. Sell-side analysts expect that CarMax will post 3.06 EPS for the current fiscal year.

Insider Activity

In other news, EVP Diane L. Cafritz sold 15,356 shares of CarMax stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the transaction, the executive vice president now directly owns 6,977 shares in the company, valued at $485,110.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On CarMax

Several hedge funds have recently made changes to their positions in KMX. Dark Forest Capital Management LP purchased a new position in shares of CarMax in the third quarter valued at $542,000. Mariner LLC grew its position in shares of CarMax by 7.9% in the third quarter. Mariner LLC now owns 14,478 shares of the company’s stock valued at $1,024,000 after purchasing an additional 1,062 shares in the last quarter. Northern Trust Corp boosted its stake in CarMax by 3.2% during the third quarter. Northern Trust Corp now owns 1,570,993 shares of the company’s stock valued at $111,116,000 after buying an additional 48,879 shares during the period. Bank of Nova Scotia grew its position in CarMax by 18.6% during the third quarter. Bank of Nova Scotia now owns 15,829 shares of the company’s stock worth $1,120,000 after buying an additional 2,488 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its stake in CarMax by 24.2% in the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 901,862 shares of the company’s stock worth $63,789,000 after acquiring an additional 175,862 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.