CarMax (NYSE:KMX) Price Target Raised to $79.00

CarMax (NYSE:KMX) had its target price upped by Evercore ISI from $76.00 to $79.00 in a report published on Friday, Benzinga reports. They currently have an in-line rating on the stock.

Other analysts have also issued reports about the stock. Mizuho lowered their target price on shares of CarMax from $75.00 to $72.00 and set a neutral rating for the company in a research note on Tuesday, June 18th. Wedbush reissued an outperform rating and issued a $95.00 price objective on shares of CarMax in a research report on Tuesday, September 17th. Argus raised shares of CarMax to a hold rating in a research report on Tuesday, June 25th. Needham & Company LLC boosted their price target on CarMax from $87.00 to $90.00 and gave the company a buy rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on CarMax from $55.00 to $65.00 and gave the stock an underweight rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $79.73.

CarMax Stock Performance

CarMax stock opened at $77.38 on Friday. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22. The company’s 50-day moving average is $79.64 and its 200 day moving average is $76.26. The firm has a market capitalization of $12.08 billion, a P/E ratio of 30.23, a price-to-earnings-growth 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 (NYSE:KMX) last issued its quarterly earnings results 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). CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. Research analysts forecast that CarMax will post 2.99 EPS for the current year.

Insider Activity

In related news, CEO William D. Nash sold 120,000 shares of the company’s 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 directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction that occurred on Thursday, July 11th. The shares were 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 of the company’s stock, valued at approximately $14,465,600.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mohammad Shamim sold 25,000 shares of the 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 sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is currently owned by company insiders.

Institutional Trading of CarMax

Institutional investors have recently made changes to their positions in the business. Baker Tilly Wealth Management LLC raised its stake in CarMax by 4.6% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,959 shares of the company’s stock valued at $217,000 after buying an additional 130 shares during the last quarter. GAMMA Investing LLC boosted its stake in CarMax by 6.5% in the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock worth $188,000 after purchasing an additional 131 shares in the last quarter. Peoples Bank KS grew its position in CarMax by 10.0% during the 2nd quarter. Peoples Bank KS now owns 1,479 shares of the company’s stock worth $108,000 after purchasing an additional 135 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in CarMax by 2.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock valued at $456,000 after purchasing an additional 142 shares in the last quarter. Finally, Allegheny Financial Group LTD raised its holdings in shares of CarMax by 4.1% in the second quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company’s stock worth $264,000 after buying an additional 143 shares during 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.