CarMax (NYSE:KMX) Price Target Increased to $70.00 by Analysts at Truist Financial

CarMax (NYSE:KMX) had its price target upped by research analysts at Truist Financial from $66.00 to $70.00 in a report issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential downside of 1.80% from the stock’s current price.

KMX has been the subject of several other reports. Needham & Company LLC cut their price objective on shares of CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a report on Monday. StockNews.com raised CarMax to a “sell” rating in a report on Monday, April 22nd. Evercore ISI decreased their price objective on CarMax from $73.00 to $68.00 and set an “in-line” rating on the stock in a research note on Thursday. Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of CarMax in a research note on Tuesday, June 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $83.00 target price on shares of CarMax in a report on Monday, April 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.17.

CarMax Stock Performance

NYSE:KMX traded down $0.35 during trading hours on Monday, reaching $71.28. The stock had a trading volume of 110,263 shares, compared to its average volume of 1,996,113. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26. The stock has a 50 day simple moving average of $70.25 and a 200 day simple moving average of $73.88. The stock has a market cap of $11.22 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.69.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. On average, research analysts forecast that CarMax will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the transaction, the executive vice president now owns 6,977 shares of the company’s stock, valued at approximately $485,110.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CarMax

A number of hedge funds and other institutional investors have recently modified their holdings of KMX. DekaBank Deutsche Girozentrale raised its holdings in shares of CarMax by 1.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,039 shares of the company’s stock valued at $2,682,000 after buying an additional 498 shares in the last quarter. Cetera Advisors LLC grew its position in CarMax by 48.7% during the first quarter. Cetera Advisors LLC now owns 9,178 shares of the company’s stock valued at $799,000 after acquiring an additional 3,004 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of CarMax by 942.3% during the first quarter. Cetera Investment Advisers now owns 125,790 shares of the company’s stock worth $10,958,000 after acquiring an additional 113,721 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of CarMax by 11.6% in the 1st quarter. Atria Investments Inc now owns 41,221 shares of the company’s stock worth $3,591,000 after acquiring an additional 4,286 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of CarMax in the 1st quarter worth approximately $1,406,000.

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.