CarMax (NYSE:KMX) Price Target Raised to $88.00

CarMax (NYSE:KMX) had its price objective raised by Truist Financial from $72.00 to $88.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

KMX has been the subject of a number of other research reports. Needham & Company LLC boosted their target price on CarMax from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday. Evercore ISI increased their price objective on shares of CarMax from $83.00 to $85.00 and gave the company a “market perform” rating in a research report on Thursday. Stephens initiated coverage on shares of CarMax in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 target price for the company. Royal Bank of Canada increased their price target on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday. Finally, BNP Paribas raised CarMax to a “strong sell” rating in a report on Friday, September 27th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, CarMax has a consensus rating of “Hold” and a consensus price target of $85.17.

CarMax Price Performance

Shares of KMX opened at $84.27 on Friday. CarMax has a twelve month low of $65.83 and a twelve month high of $91.25. The company has a market capitalization of $13.06 billion, a P/E ratio of 31.68, a price-to-earnings-growth ratio of 1.76 and a beta of 1.71. The firm has a 50 day moving average of $79.01 and a 200 day moving average of $77.69. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX) last posted 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. The business had revenue of $6.22 billion during 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 company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. As a group, equities research analysts anticipate that CarMax will post 3.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted 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 during the period. Vulcan Value Partners LLC lifted its stake in shares of CarMax by 299.7% during 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 in the last quarter. Holocene Advisors LP boosted its holdings in CarMax by 740.2% in 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 during the period. Marshall Wace LLP increased its stake in CarMax by 87.6% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of CarMax by 41.8% in the third 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.

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.