CarMax, Inc. (NYSE:KMX) Receives $90.45 Average Target Price from Brokerages

Shares of CarMax, Inc. (NYSE:KMX) have been given an average recommendation of “Hold” by the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $90.45.

Several research analysts have recently commented on KMX shares. Truist Financial lifted their price objective on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Needham & Company LLC lifted their price target on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Evercore ISI dropped their price objective on CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Stephens started coverage on shares of CarMax in a report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 target price on the stock. Finally, Royal Bank of Canada upped their price target on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, December 19th.

Insider Activity at CarMax

In other news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the sale, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at $1,649,771.80. This represents a 19.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jon G. Daniels sold 30,245 shares of CarMax stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $84.34, for a total transaction of $2,550,863.30. Following the transaction, the senior vice president now directly owns 995 shares of the company’s stock, valued at approximately $83,918.30. This trade represents a 96.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,954 shares of company stock worth $11,046,243 over the last 90 days. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lakewood Asset Management LLC boosted its position in shares of CarMax by 0.6% in the 4th quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company’s stock worth $1,778,000 after purchasing an additional 135 shares in the last quarter. Arete Wealth Advisors LLC raised its stake in CarMax by 4.3% during the third quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company’s stock valued at $266,000 after buying an additional 141 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in CarMax by 3.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,682 shares of the company’s stock valued at $383,000 after buying an additional 141 shares during the last quarter. Timber Creek Capital Management LLC boosted its holdings in CarMax by 0.3% in the fourth quarter. Timber Creek Capital Management LLC now owns 57,601 shares of the company’s stock worth $4,709,000 after acquiring an additional 145 shares in the last quarter. Finally, Chemistry Wealth Management LLC grew its stake in shares of CarMax by 1.4% in the fourth quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company’s stock worth $999,000 after acquiring an additional 164 shares during the last quarter.

CarMax Stock Performance

Shares of NYSE KMX opened at $71.29 on Friday. The stock’s 50-day moving average is $80.87 and its 200 day moving average is $79.45. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 1.67 and a beta of 1.76. CarMax has a 1-year low of $65.83 and a 1-year high of $91.25. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that CarMax will post 3.23 EPS for the current fiscal year.

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.