Truist Financial Issues Positive Forecast for CarMax (NYSE:KMX) Stock Price

CarMax (NYSE:KMX) had its target price boosted by Truist Financial from $72.00 to $88.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price target on shares of CarMax from $65.00 to $70.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research note on Wednesday, October 16th. BNP Paribas upgraded CarMax to a “strong sell” rating in a research report on Friday, September 27th. Oppenheimer reiterated an “outperform” rating and set a $105.00 target price on shares of CarMax in a research report on Friday, October 4th. Finally, Needham & Company LLC upped their target price on shares of CarMax from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.17.

CarMax Stock Performance

NYSE:KMX opened at $84.27 on Friday. The business’s fifty day moving average is $78.77 and its 200 day moving average is $77.55. The firm has a market cap of $13.06 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.76 and a beta of 1.71. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. CarMax has a 52-week low of $65.83 and a 52-week high of $91.25.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. The firm had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. Research analysts predict that CarMax will post 3.01 EPS for the current year.

Hedge Funds Weigh In On CarMax

Several hedge funds have recently made changes to their positions in KMX. Quarry LP boosted its holdings in CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after acquiring an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of CarMax during the 3rd quarter valued at about $32,000. True Wealth Design LLC increased its position in shares of CarMax by 4,844.4% during the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after buying an additional 436 shares during the period. Blue Trust Inc. raised its stake in CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after buying an additional 287 shares in the last quarter. Finally, Studio Investment Management LLC lifted its holdings in CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after buying an additional 334 shares during the period.

CarMax Company Profile

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.