Evercore ISI Increases CarMax (NYSE:KMX) Price Target to $79.00

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

A number of other equities analysts have also recently issued reports on the company. Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Friday, October 4th. Morgan Stanley restated an “overweight” rating and issued a $80.00 target price on shares of CarMax in a research note on Friday, June 21st. Finally, StockNews.com raised shares of CarMax to a “sell” rating in a research note on Friday, July 26th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, CarMax presently has a consensus rating of “Hold” and an average price target of $79.73.

CarMax Trading Down 0.6 %

Shares of KMX opened at $74.70 on Thursday. The company’s fifty day simple moving average is $78.02 and its 200-day simple moving average is $75.19. The company has a market cap of $11.66 billion, a P/E ratio of 29.18, a P/E/G ratio of 1.46 and a beta of 1.68. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. CarMax has a twelve month low of $59.66 and a twelve month high of $88.22.

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 analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts expect that CarMax will post 2.97 EPS for the current year.

Insider Transactions at CarMax

In related news, EVP Mohammad Shamim sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was 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 owns 11,738 shares of the company’s stock, valued at $965,567.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction dated 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

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