CarMax (NYSE:KMX) Price Target Raised to $80.00

CarMax (NYSE:KMX) had its price objective upped by Mizuho from $72.00 to $80.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also recently commented on the company. Royal Bank of Canada upped their price target on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of CarMax in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted 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. Finally, Evercore ISI lifted their target price on CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.17.

CarMax Price Performance

Shares of KMX stock opened at $84.27 on Friday. The firm’s 50 day moving average price is $79.01 and its two-hundred day moving average price is $77.69. The stock has a market cap of $13.06 billion, a PE ratio of 31.68, a PEG ratio of 1.76 and a beta of 1.71. CarMax has a 52-week low of $65.83 and a 52-week high of $91.25. 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 posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.19. The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. As a group, analysts forecast that CarMax will post 3.01 EPS for the current year.

Hedge Funds Weigh In On CarMax

A number of large investors have recently bought and sold shares of the company. FMR LLC lifted its position 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 purchasing an additional 1,713,379 shares in the last quarter. Vulcan Value Partners LLC increased its stake in CarMax by 299.7% in 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 last quarter. Holocene Advisors LP lifted its position in CarMax by 740.2% during the 3rd 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 in the last quarter. Marshall Wace LLP boosted its stake in shares of CarMax by 87.6% during the 2nd 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of CarMax by 41.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock valued at $114,471,000 after acquiring an additional 436,342 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.