CarMax (NYSE:KMX) Stock Price Expected to Rise, Evercore ISI Analyst Says

CarMax (NYSE:KMX) had its price target increased by research analysts at Evercore ISI from $81.00 to $83.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price target would suggest a potential downside of 0.74% from the company’s current price.

A number of other brokerages have also recently weighed in on KMX. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Oppenheimer reissued an “outperform” rating and set a $105.00 target price on shares of CarMax in a research report on Friday, October 4th. Wedbush reissued an “outperform” rating and set a $95.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Truist Financial boosted their target price on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, September 19th. Four 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. According to data from MarketBeat, CarMax presently has a consensus rating of “Hold” and an average price target of $80.09.

CarMax Price Performance

CarMax stock opened at $83.62 on Tuesday. CarMax has a 1 year low of $64.72 and a 1 year high of $88.22. The firm has a 50 day moving average price of $76.22 and a 200 day moving average price of $76.36. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 1.69 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 (NYSE:KMX) last released its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company 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 firm posted $0.75 earnings per share. CarMax’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts predict that CarMax will post 2.99 earnings per share for the current year.

Hedge Funds Weigh In On CarMax

Large investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after buying an additional 1,713,379 shares during the period. Vulcan Value Partners LLC boosted its holdings in shares of CarMax by 299.7% in the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after buying an additional 1,369,986 shares during the period. Holocene Advisors LP boosted its holdings in shares of CarMax by 740.2% in the third quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock worth $73,274,000 after buying an additional 834,232 shares during the period. Marshall Wace LLP boosted its holdings in shares of CarMax by 87.6% in the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after buying an additional 541,967 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CarMax by 41.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after buying an additional 436,342 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.