Evercore ISI Boosts CarMax (NYSE:KMX) Price Target to $83.00

CarMax (NYSE:KMX) had its price objective hoisted by equities research analysts at Evercore ISI from $81.00 to $83.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price target would indicate a potential downside of 0.74% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of CarMax in a research report on Wednesday, October 16th. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Wedbush reissued an “outperform” rating and issued a $95.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research note on Friday, October 4th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, CarMax currently has an average rating of “Hold” and a consensus target price of $80.09.

CarMax Stock Performance

KMX stock opened at $83.62 on Tuesday. The stock has a market cap of $12.95 billion, a P/E ratio of 31.66, a P/E/G ratio of 1.69 and a beta of 1.71. The firm has a 50 day simple moving average of $76.22 and a 200 day simple moving average of $76.36. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. CarMax has a 52 week low of $64.72 and a 52 week high of $88.22.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. CarMax’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. Research analysts anticipate that CarMax will post 2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KMX. First Community Trust NA bought a new stake in CarMax during the 2nd quarter worth about $29,000. Quarry LP raised its holdings in 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 during the last quarter. Catalyst Capital Advisors LLC bought a new stake in CarMax during the 3rd quarter worth about $32,000. True Wealth Design LLC raised its holdings in CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after purchasing an additional 436 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings 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 purchasing an additional 287 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.