CarMax (NYSE:KMX) Stock Rating Reaffirmed by Wedbush

CarMax (NYSE:KMX)‘s stock had its “outperform” rating reiterated by Wedbush in a note issued to investors on Wednesday, Benzinga reports. They presently have a $95.00 price objective on the stock. Wedbush’s price objective would indicate a potential upside of 26.46% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Evercore ISI reduced their target price on shares of CarMax from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. StockNews.com raised shares of CarMax to a “sell” rating in a research note on Friday, July 26th. Truist Financial lifted their price objective on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Morgan Stanley reissued an “overweight” rating and set a $80.00 price objective on shares of CarMax in a research note on Friday, June 21st. Finally, Mizuho reduced their price objective on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $79.73.

CarMax Trading Up 0.4 %

Shares of CarMax stock opened at $75.12 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The stock has a market capitalization of $11.72 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a 50-day simple moving average of $78.04 and a 200 day simple moving average of $75.39.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. Research analysts expect that CarMax will post 2.97 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of CarMax stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CarMax

A number of institutional investors have recently added to or reduced their stakes in KMX. First Community Trust NA acquired a new position in shares of CarMax in the second quarter valued at $29,000. Quarry LP increased its holdings in shares of CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after purchasing an additional 184 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares during the last quarter. Studio Investment Management LLC increased its holdings 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 stake in shares of CarMax in the first quarter valued at 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.