Truist Financial Boosts CarMax (NYSE:KMX) Price Target to $70.00

CarMax (NYSE:KMX) had its price target upped by Truist Financial from $66.00 to $70.00 in a report released on Monday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities research analysts have also recently issued reports about the company. Bank of America upped their price objective on CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a research note on Thursday, February 29th. Robert W. Baird lowered their price target on shares of CarMax from $88.00 to $84.00 and set an outperform rating on the stock in a report on Friday, April 12th. Mizuho reduced their price objective on shares of CarMax from $75.00 to $72.00 and set a neutral rating for the company in a research note on Tuesday, June 18th. Oppenheimer restated an outperform rating and issued a $105.00 target price on shares of CarMax in a research note on Tuesday, April 9th. Finally, Needham & Company LLC decreased their price objective on CarMax from $91.00 to $87.00 and set a buy rating for the company in a report on Monday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, CarMax presently has an average rating of Hold and a consensus price target of $75.50.

CarMax Trading Up 1.3 %

NYSE KMX opened at $72.73 on Monday. The company’s 50-day simple moving average is $70.45 and its two-hundred day simple moving average is $73.95. CarMax has a one year low of $59.66 and a one year high of $88.22. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 1.41 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. CarMax’s revenue was down 7.5% compared to the same quarter last year. During the same period last year, the company posted $1.16 earnings per share. Equities analysts forecast that CarMax will post 3.06 EPS for the current fiscal year.

Insider Activity

In related news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the sale, the executive vice president now owns 6,977 shares in the company, valued at $485,110.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

Several institutional investors and hedge funds have recently bought and sold shares of KMX. Dark Forest Capital Management LP purchased a new stake in CarMax in the third quarter valued at $542,000. Mariner LLC grew its holdings in CarMax by 7.9% during the third quarter. Mariner LLC now owns 14,478 shares of the company’s stock worth $1,024,000 after acquiring an additional 1,062 shares during the period. Northern Trust Corp raised its position in CarMax by 3.2% during the third quarter. Northern Trust Corp now owns 1,570,993 shares of the company’s stock valued at $111,116,000 after acquiring an additional 48,879 shares in the last quarter. Bank of Nova Scotia lifted its holdings in CarMax by 18.6% in the third quarter. Bank of Nova Scotia now owns 15,829 shares of the company’s stock valued at $1,120,000 after acquiring an additional 2,488 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. boosted its position in CarMax by 24.2% in the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 901,862 shares of the company’s stock worth $63,789,000 after purchasing an additional 175,862 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.