CarMax (NYSE:KMX) Raised to “Overweight” at Stephens

CarMax (NYSE:KMX) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday, MarketBeat reports. The brokerage currently has a $90.00 price target on the stock, up from their previous price target of $86.00. Stephens’ price target indicates a potential upside of 16.70% from the company’s current price.

A number of other analysts have also weighed in on the company. Evercore ISI dropped their price objective on CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Needham & Company LLC raised their price target on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Mizuho raised their target price on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Finally, Truist Financial upped their price target on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.18.

CarMax Trading Up 2.7 %

Shares of KMX stock opened at $77.12 on Wednesday. The business has a 50-day moving average of $80.51 and a 200 day moving average of $79.32. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. CarMax has a 1-year low of $65.83 and a 1-year high of $91.25. The stock has a market capitalization of $11.86 billion, a PE ratio of 26.14, a P/E/G ratio of 1.67 and a beta of 1.76.

Insider Buying and Selling

In other CarMax news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the sale, the chief financial officer now owns 20,260 shares in the company, valued at approximately $1,649,771.80. This represents a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mohammad Shamim sold 12,845 shares of CarMax stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $81.94, for a total transaction of $1,052,519.30. Following the transaction, the executive vice president now owns 11,738 shares of the company’s stock, valued at $961,811.72. The trade was a 52.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,709 shares of company stock valued at $7,642,379 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Hawaiian Bank purchased a new stake in CarMax during the 4th quarter valued at $273,000. Sequoia Financial Advisors LLC lifted its holdings in shares of CarMax by 10.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company’s stock valued at $261,000 after purchasing an additional 307 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of CarMax by 36.6% during the fourth quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company’s stock valued at $426,000 after buying an additional 1,396 shares during the last quarter. World Investment Advisors LLC bought a new stake in CarMax in the 3rd quarter worth about $6,942,000. Finally, HF Advisory Group LLC raised its position in CarMax by 12.6% in the 4th quarter. HF Advisory Group LLC now owns 28,793 shares of the company’s stock worth $2,354,000 after buying an additional 3,222 shares during 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.