CarMax (NYSE:KMX) Price Target Raised to $79.00

CarMax (NYSE:KMX) had its price target boosted by Evercore ISI from $76.00 to $79.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price suggests a potential upside of 1.06% from the stock’s current price.

KMX has been the subject of a number of other research reports. Mizuho lowered their price objective on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their target price on CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Wedbush reiterated an “outperform” rating and set a $95.00 price target on shares of CarMax in a research report on Tuesday, September 17th. Needham & Company LLC boosted their price objective on CarMax from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. Finally, StockNews.com upgraded CarMax to a “sell” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, CarMax currently has a consensus rating of “Hold” and an average price target of $78.33.

CarMax Trading Up 4.9 %

NYSE:KMX opened at $78.17 on Friday. The company has a market cap of $12.20 billion, a PE ratio of 30.54, a P/E/G ratio of 1.56 and a beta of 1.69. The business’s 50 day moving average is $79.76 and its two-hundred day moving average is $76.40. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. CarMax has a 52 week low of $59.66 and a 52 week high of $88.22.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the business earned $0.75 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts predict that CarMax will post 2.99 EPS for the current year.

Insider Activity at CarMax

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

Institutional Investors Weigh In On CarMax

Several hedge funds and other institutional investors have recently bought and sold shares of KMX. First Community Trust NA acquired a new position in shares of CarMax in the 2nd quarter worth approximately $29,000. Quarry LP increased its position in shares of CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares in the last quarter. Blue Trust Inc. boosted its position in CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares during the period. Studio Investment Management LLC lifted its position in CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after buying an additional 334 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of CarMax in the 1st quarter valued at approximately $55,000.

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.