CarMax (NYSE:KMX) Stock Price Expected to Rise, Truist Financial Analyst Says

CarMax (NYSE:KMX) had its price target lifted by analysts at Truist Financial from $72.00 to $88.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential upside of 6.61% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of CarMax in a report on Wednesday, October 16th. Mizuho increased their target price on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday. Needham & Company LLC raised their price objective on shares of CarMax from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI upped their target price on CarMax from $83.00 to $85.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, Royal Bank of Canada raised their price objective on shares of CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CarMax currently has a consensus rating of “Hold” and an average price target of $85.00.

CarMax Trading Down 2.0 %

Shares of KMX traded down $1.69 during midday trading on Friday, reaching $82.54. The company had a trading volume of 531,732 shares, compared to its average volume of 1,928,741. CarMax has a 1-year low of $65.83 and a 1-year high of $91.25. The stock has a market cap of $12.79 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 1.76 and a beta of 1.71. The firm has a 50 day simple moving average of $78.77 and a 200-day simple moving average of $77.55. 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, beating analysts’ consensus estimates of $0.62 by $0.19. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts forecast that CarMax will post 3.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KMX. Quarry LP raised its stake in shares of CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after buying an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of CarMax in the 3rd quarter worth $32,000. True Wealth Design LLC increased its position in shares of CarMax by 4,844.4% in the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after acquiring an additional 436 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after buying an additional 287 shares during the period. Finally, Studio Investment Management LLC increased its position in shares of CarMax by 176.7% during the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after acquiring an additional 334 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.