CarMax (NYSE:KMX) Given New $75.00 Price Target at Truist Financial

CarMax (NYSE:KMX) had its target price hoisted by stock analysts at Truist Financial from $70.00 to $75.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential downside of 2.13% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday. Needham & Company LLC decreased their price objective on shares of CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Monday, June 24th. StockNews.com upgraded CarMax to a “sell” rating in a research note on Friday, July 26th. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Monday, June 24th. Finally, Argus upgraded CarMax to a “hold” rating in a research note on Tuesday, June 25th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.50.

CarMax Stock Up 0.7 %

NYSE KMX traded up $0.53 during trading hours on Monday, hitting $76.63. The company had a trading volume of 334,509 shares, compared to its average volume of 1,903,360. The firm’s 50 day moving average is $80.26 and its 200 day moving average is $76.46. 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 fifty-two week low of $59.66 and a fifty-two week high of $88.22. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 1.53 and a beta of 1.69.

CarMax (NYSE:KMX) last posted its earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. Sell-side analysts anticipate that CarMax will post 2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the transaction, the senior vice president now directly owns 995 shares of the company’s stock, valued at approximately $72,097.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other CarMax news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the sale, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,243 shares of company stock valued at $14,893,042. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in CarMax by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after acquiring an additional 222,132 shares during the period. Morningstar Investment Services LLC raised its stake in shares of CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after purchasing an additional 1,326,840 shares in the last quarter. First Pacific Advisors LP lifted its holdings in CarMax by 2.0% in the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock worth $175,005,000 after purchasing an additional 47,184 shares during the period. Dimensional Fund Advisors LP grew its position in CarMax by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock valued at $147,230,000 after buying an additional 51,397 shares in the last quarter. Finally, Vulcan Value Partners LLC increased its stake in CarMax by 299.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after buying an additional 1,369,986 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.