Needham & Company LLC Raises CarMax (NYSE:KMX) Price Target to $90.00

CarMax (NYSE:KMX) had its target price upped by Needham & Company LLC from $87.00 to $90.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on CarMax from $55.00 to $65.00 and gave the company an underweight rating in a research note on Thursday, September 19th. StockNews.com raised CarMax to a sell rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their price objective on CarMax from $73.00 to $75.00 and gave the stock an outperform rating in a research report on Monday, June 24th. Truist Financial upped their target price on shares of CarMax from $70.00 to $75.00 and gave the stock a hold rating in a research note on Monday, September 23rd. Finally, Oppenheimer reiterated an outperform rating and issued a $105.00 price target on shares of CarMax in a research note on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, CarMax currently has an average rating of Hold and a consensus target price of $79.73.

CarMax Stock Up 0.1 %

Shares of NYSE:KMX opened at $77.38 on Friday. The firm has a market capitalization of $12.08 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The firm’s 50-day moving average is $79.64 and its two-hundred day moving average is $76.26.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Analysts predict that CarMax will post 2.99 EPS for the current year.

Insider Buying and Selling at CarMax

In other news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other CarMax news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the sale, the chief operating officer now directly owns 15,609 shares of the company’s stock, valued at $1,249,032.18. The disclosure for this sale can be found here. Insiders have sold 184,012 shares of company stock worth $14,803,843 over the last three months. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Hedge funds have recently modified their holdings of the business. Gilbert & Cook Inc. boosted its stake in CarMax by 5.7% during the 4th quarter. Gilbert & Cook Inc. now owns 8,011 shares of the company’s stock worth $615,000 after purchasing an additional 431 shares during the period. Franklin Resources Inc. increased its position in CarMax by 1.3% in the 4th quarter. Franklin Resources Inc. now owns 16,706 shares of the company’s stock valued at $1,282,000 after acquiring an additional 212 shares during the period. Hsbc Holdings PLC raised its stake in CarMax by 14.3% during the 4th quarter. Hsbc Holdings PLC now owns 135,905 shares of the company’s stock valued at $10,430,000 after acquiring an additional 17,004 shares during the last quarter. TD Asset Management Inc lifted its position in CarMax by 6.5% during the 4th quarter. TD Asset Management Inc now owns 41,855 shares of the company’s stock worth $3,212,000 after acquiring an additional 2,550 shares during the period. Finally, Stifel Financial Corp grew its stake in shares of CarMax by 13.6% in the 4th quarter. Stifel Financial Corp now owns 246,152 shares of the company’s stock valued at $18,890,000 after purchasing an additional 29,479 shares during the last quarter.

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.