CarMax’s (KMX) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of CarMax (NYSE:KMX) in a research report report published on Tuesday, Benzinga reports. They currently have a $95.00 price target on the stock.

Several other equities research analysts have also recently issued reports on KMX. Truist Financial lifted their price objective on shares of CarMax from $66.00 to $70.00 and gave the company a hold rating in a research report on Monday, June 24th. Royal Bank of Canada lifted their price target on shares of CarMax from $73.00 to $75.00 and gave the company an outperform rating in a report on Monday, June 24th. Evercore ISI increased their price objective on shares of CarMax from $68.00 to $72.00 and gave the company an in-line rating in a report on Tuesday, July 16th. Needham & Company LLC cut their price objective on CarMax from $91.00 to $87.00 and set a buy rating for the company in a research report on Monday, June 24th. Finally, Mizuho decreased their target price on CarMax from $75.00 to $72.00 and set a neutral rating on the stock in a research report on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, CarMax currently has a consensus rating of Hold and a consensus price target of $76.25.

CarMax Trading Up 0.4 %

Shares of KMX stock opened at $79.39 on Tuesday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. The stock has a fifty day simple moving average of $80.26 and a two-hundred day simple moving average of $76.53. The firm has a market capitalization of $12.39 billion, a PE ratio of 31.01, a PEG ratio of 1.53 and a beta of 1.69. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22.

CarMax (NYSE:KMX) last released its earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter last year, the business posted $1.16 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis. On average, analysts predict that CarMax will post 2.99 EPS for the current fiscal year.

Insider Activity

In other news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction that occurred 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 owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the transaction, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. The disclosure for this sale can be found here. Insiders sold 185,243 shares of company stock valued at $14,893,042 in the last ninety days. Insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in CarMax by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after acquiring an additional 222,132 shares during the last quarter. Norges Bank bought a new position in shares of CarMax in the fourth quarter worth about $288,278,000. Morningstar Investment Services LLC increased its stake in CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after buying an additional 1,326,840 shares during the period. First Pacific Advisors LP increased its stake in CarMax by 2.0% in the 2nd quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock worth $175,005,000 after buying an additional 47,184 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in CarMax by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock valued at $147,230,000 after buying an additional 51,397 shares during the period.

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.