CarMax (NYSE:KMX) Price Target Raised to $75.00 at Truist Financial

CarMax (NYSE:KMX) had its price target lifted by equities researchers at Truist Financial from $70.00 to $75.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential downside of 2.13% from the stock’s current price.

A number of other analysts also recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $80.00 target price on shares of CarMax in a report on Friday, June 21st. Oppenheimer reiterated an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Monday, June 24th. Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of CarMax in a report on Tuesday, September 17th. Royal Bank of Canada upped their target price on CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Finally, Argus raised CarMax to a “hold” rating in a research note on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.50.

CarMax Price Performance

Shares of KMX traded up $0.53 during midday trading on Monday, reaching $76.63. The stock had a trading volume of 334,509 shares, compared to its average volume of 1,903,360. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The company has a market capitalization of $11.96 billion, a P/E ratio of 29.93, a P/E/G ratio of 1.53 and a beta of 1.69. The firm’s 50 day moving average price is $80.26 and its 200-day moving average price is $76.46. CarMax has a 52 week low of $59.66 and a 52 week high of $88.22.

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

Insider Transactions at CarMax

In related 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 completion of the sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO William D. Nash sold 120,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the transaction, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $965,567.88. The disclosure for this sale can be found here. Insiders sold 185,243 shares of company stock valued at $14,893,042 over the last three months. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of CarMax

A number of institutional investors and hedge funds have recently made changes to their positions in KMX. First Community Trust NA bought a new stake in shares of CarMax during the 2nd quarter worth $29,000. Quarry LP lifted its position in CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares during the last quarter. Blue Trust Inc. boosted its holdings in CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares during the period. Studio Investment Management LLC grew its position in shares of CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of CarMax in the first quarter worth about $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.