CarMax’s (KMX) “Outperform” Rating Reaffirmed at Oppenheimer

Oppenheimer reissued their outperform rating on shares of CarMax (NYSE:KMX) in a report issued on Monday, Benzinga reports. They currently have a $105.00 price objective on the stock.

KMX has been the subject of several other research reports. 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 note on Monday. Mizuho decreased their price objective on shares of CarMax from $75.00 to $72.00 and set a neutral rating for the company in a report on Tuesday, June 18th. Evercore ISI dropped their target price on shares of CarMax from $73.00 to $68.00 and set an in-line rating on the stock in a report on Thursday, June 20th. Truist Financial boosted their target price on shares of CarMax from $66.00 to $70.00 and gave the stock a hold rating in a research report on Monday. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $80.00 price target on shares of CarMax in a research report on Friday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, CarMax presently has an average rating of Hold and an average price target of $75.50.

CarMax Price Performance

NYSE KMX opened at $73.18 on Monday. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. The stock has a market capitalization of $11.52 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.40 and a beta of 1.69. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a 50 day moving average price of $70.32 and a two-hundred day moving average price of $73.92.

CarMax (NYSE:KMX) last released its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. CarMax’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. As a group, equities analysts predict that CarMax will post 3.06 earnings per share for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, EVP Diane L. Cafritz sold 15,356 shares of the firm’s 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 of the company’s stock, valued at $485,110.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KMX. Allworth Financial LP boosted its holdings in CarMax by 153.3% during the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of CarMax by 1,081.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock worth $34,000 after buying an additional 400 shares during the period. Mendota Financial Group LLC acquired a new stake in CarMax in the 4th quarter valued at $37,000. MCF Advisors LLC bought a new stake in CarMax in the fourth quarter valued at $46,000. Finally, Lindbrook Capital LLC raised its stake in CarMax by 32.8% during the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after acquiring an additional 155 shares in the last quarter.

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.