Needham & Company LLC Boosts CarMax (NYSE:KMX) Price Target to $90.00

CarMax (NYSE:KMX) had its target price raised by stock analysts at Needham & Company LLC from $87.00 to $90.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 15.13% from the stock’s current price.

A number of other brokerages also recently commented on KMX. Evercore ISI raised their target price on shares of CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a research note on Tuesday, July 16th. Morgan Stanley reiterated an “overweight” rating and issued a $80.00 target price on shares of CarMax in a research note on Friday, June 21st. Argus raised CarMax to a “hold” rating in a research report on Tuesday, June 25th. Royal Bank of Canada increased their price objective on shares of CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $77.75.

CarMax Stock Performance

Shares of NYSE:KMX opened at $78.17 on Friday. The business has a 50-day moving average of $79.76 and a two-hundred day moving average of $76.40. The firm has a market capitalization of $12.20 billion, a PE ratio of 30.54, a P/E/G ratio of 1.56 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22.

Insider Buying and Selling

In other CarMax news, CEO William D. Nash sold 120,000 shares of CarMax 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 completion of the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CarMax news, CEO William D. Nash sold 120,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the completion of the sale, the chief financial officer now owns 20,260 shares in the company, valued at $1,690,899.60. The disclosure for this sale can be found here. Insiders have sold a total of 184,012 shares of company stock worth $14,803,843 over the last quarter. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

Several large investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its stake in shares of CarMax by 29.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock valued at $14,573,000 after purchasing an additional 37,660 shares in the last quarter. Fairview Capital Investment Management LLC lifted its stake in shares of CarMax by 7.0% in the 4th quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company’s stock worth $19,302,000 after acquiring an additional 16,438 shares during the period. Quadrature Capital Ltd bought a new position in shares of CarMax in the fourth quarter valued at approximately $5,637,000. State Board of Administration of Florida Retirement System increased its stake in shares of CarMax by 10.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock valued at $16,238,000 after acquiring an additional 17,557 shares during the period. Finally, Van ECK Associates Corp raised its holdings in CarMax by 38.2% during the first quarter. Van ECK Associates Corp now owns 55,800 shares of the company’s stock worth $4,861,000 after purchasing an additional 15,426 shares in 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.