CarMax’s (KMX) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of CarMax (NYSE:KMX) in a research report released on Tuesday,Benzinga reports. Wedbush currently has a $100.00 price target on the stock.

Several other equities analysts also recently weighed in on KMX. Truist Financial lifted their target price on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Mizuho boosted their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, March 26th. Finally, Evercore ISI lowered their price target on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, CarMax presently has an average rating of “Hold” and an average price target of $90.64.

CarMax Stock Up 1.0 %

KMX opened at $78.74 on Tuesday. The firm’s 50 day simple moving average is $80.42 and its two-hundred day simple moving average is $79.34. The company has a market capitalization of $12.11 billion, a PE ratio of 26.69, a PEG 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.

Insider Activity at CarMax

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

Hedge Funds Weigh In On CarMax

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