CarMax (NYSE:KMX) Price Target Raised to $75.00 at Truist Financial

CarMax (NYSE:KMX) had its price target lifted by Truist Financial from $70.00 to $75.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also issued research reports about the company. StockNews.com upgraded CarMax to a sell rating in a report on Friday, July 26th. Mizuho reduced their price objective on CarMax from $75.00 to $72.00 and set a neutral rating for the company in a research note on Tuesday, June 18th. Wedbush restated an outperform rating and set a $95.00 price objective on shares of CarMax in a research report on Tuesday, September 17th. Royal Bank of Canada upped their target price on CarMax from $73.00 to $75.00 and gave the company an outperform rating in a report on Monday, June 24th. Finally, Argus upgraded shares of CarMax to a hold rating in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $77.50.

CarMax Stock Performance

CarMax stock opened at $78.17 on Monday. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The firm’s 50 day simple moving average is $79.76 and its 200-day simple moving average is $76.40. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The company has a market cap of $12.20 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69.

Insider Activity at CarMax

In other CarMax news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value 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 filing with the SEC, which is available at this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total transaction of $777,680.28. Following the transaction, the chief financial officer now directly owns 20,260 shares in the company, valued at approximately $1,690,899.60. The disclosure for this sale can be found here. Insiders sold a total of 184,012 shares of company stock worth $14,803,843 in the last 90 days. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

Hedge funds have recently made changes to their positions in the stock. First Community Trust NA acquired a new position in CarMax in the 2nd quarter valued at approximately $29,000. Quarry LP grew its holdings in shares of CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after purchasing an additional 184 shares in the last quarter. Blue Trust Inc. increased its position in shares of CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares during the period. Studio Investment Management LLC raised its stake in shares of CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in CarMax in the first quarter worth $55,000.

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.