CarMax (NYSE:KMX) Price Target Raised to $98.00

CarMax (NYSE:KMX) had its price target lifted by Needham & Company LLC from $90.00 to $98.00 in a report issued on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Evercore ISI raised their target price on CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a research report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target on shares of CarMax in a research report on Friday, October 4th. Wedbush reissued an “outperform” rating and issued a $95.00 price objective on shares of CarMax in a report on Wednesday, October 16th. Finally, Stephens initiated coverage on shares of CarMax in a report on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.17.

CarMax Stock Up 0.0 %

KMX stock opened at $84.27 on Friday. The stock has a market cap of $13.06 billion, a P/E ratio of 31.68, a P/E/G ratio of 1.76 and a beta of 1.71. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. The stock’s fifty day simple moving average is $79.01 and its two-hundred day simple moving average is $77.69. CarMax has a 1-year low of $65.83 and a 1-year high of $91.25.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.19. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts expect that CarMax will post 3.01 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. World Investment Advisors LLC purchased a new position in CarMax during the third quarter worth about $6,942,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of CarMax by 3.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock valued at $27,188,000 after acquiring an additional 10,898 shares during the last quarter. Eagle Rock Investment Company LLC purchased a new position in shares of CarMax during the third quarter worth about $747,000. Neo Ivy Capital Management bought a new position in shares of CarMax in the third quarter worth approximately $3,934,000. Finally, iSAM Funds UK Ltd purchased a new stake in CarMax in the third quarter valued at approximately $537,000.

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.