CarMax (NYSE:KMX) Upgraded by Stephens to Overweight Rating

Stephens upgraded shares of CarMax (NYSE:KMX) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have $90.00 target price on the stock, up from their prior target price of $86.00.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC raised their price target on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. StockNews.com raised CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Evercore ISI lowered their price target on CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Truist Financial increased their price objective on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their price objective on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $90.82.

CarMax Price Performance

Shares of NYSE KMX opened at $75.00 on Wednesday. CarMax has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The company has a market cap of $11.53 billion, a PE ratio of 25.42, a P/E/G ratio of 1.67 and a beta of 1.76. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The business has a 50-day simple moving average of $80.56 and a two-hundred day simple moving average of $79.34.

Insider Activity

In other CarMax news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total transaction of $407,150.00. Following the transaction, the chief financial officer now owns 20,260 shares in the company, valued at approximately $1,649,771.80. This represents a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the sale, the senior vice president now owns 227 shares of the company’s stock, valued at $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,709 shares of company stock valued at $7,642,379 in the last three months. 1.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CarMax

A number of institutional investors have recently added to or reduced their stakes in KMX. Principal Financial Group Inc. grew its position in shares of CarMax by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock valued at $702,425,000 after purchasing an additional 282,519 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in CarMax by 348.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock valued at $539,213,000 after buying an additional 5,122,850 shares in the last quarter. State Street Corp lifted its stake in CarMax by 0.6% in the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company’s stock valued at $479,228,000 after buying an additional 36,959 shares in the last quarter. Norges Bank acquired a new stake in CarMax in the 4th quarter worth about $423,187,000. Finally, Janus Henderson Group PLC increased its stake in CarMax by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company’s stock worth $381,978,000 after buying an additional 29,715 shares in the last quarter.

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.