Needham & Company LLC Forecasts Strong Price Appreciation for CarMax (NYSE:KMX) Stock

CarMax (NYSE:KMX) had its price target boosted by stock analysts at Needham & Company LLC from $98.00 to $101.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 19.82% from the company’s current price.

A number of other research firms have also recently weighed in on KMX. Evercore ISI lifted their target price on shares of CarMax from $83.00 to $85.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of CarMax in a research note on Wednesday, October 16th. Stephens assumed coverage on CarMax in a research note on Thursday, December 5th. They set an “equal weight” rating and a $86.00 target price on the stock. Truist Financial upped their price target on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.42.

CarMax Trading Up 0.1 %

NYSE:KMX opened at $84.29 on Monday. The firm has a market capitalization of $12.96 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 1.66 and a beta of 1.72. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The business has a fifty day moving average price of $83.06 and a 200-day moving average price of $79.57. CarMax has a one year low of $65.83 and a one year high of $91.25.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. Sell-side analysts forecast that CarMax will post 3.25 EPS for the current year.

Insider Buying and Selling at CarMax

In related news, SVP Jon G. Daniels sold 30,245 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $84.34, for a total value of $2,550,863.30. Following the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at $83,918.30. This trade represents a 96.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the completion of the sale, the vice president now directly owns 9,448 shares of the company’s stock, valued at approximately $765,288. This trade represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 264,467 shares of company stock worth $21,915,445 over the last quarter. Insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

A number of large investors have recently modified their holdings of KMX. Illinois Municipal Retirement Fund bought a new stake in CarMax during the 4th quarter valued at $2,126,000. BankPlus Trust Department bought a new stake in shares of CarMax in the fourth quarter valued at about $85,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in CarMax by 30.8% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 23,800 shares of the company’s stock worth $1,946,000 after acquiring an additional 5,600 shares during the period. Wealthspire Advisors LLC bought a new position in CarMax during the 4th quarter worth about $226,000. Finally, Cromwell Holdings LLC increased its position in CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after purchasing an additional 217 shares during the period.

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.