CarMax (NYSE:KMX) Price Target Raised to $98.00

CarMax (NYSE:KMX) had its target price boosted by investment analysts at Needham & Company LLC from $90.00 to $98.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 16.29% from the company’s current price.

Several other research firms also recently commented on KMX. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Oppenheimer reissued an “outperform” rating and set a $105.00 price objective on shares of CarMax in a report on Friday, October 4th. BNP Paribas raised shares of CarMax to a “strong sell” rating in a report on Friday, September 27th. Royal Bank of Canada lifted their price target on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Stephens initiated coverage on shares of CarMax in a research note on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $85.17.

CarMax Stock Up 0.0 %

NYSE KMX opened at $84.27 on Friday. The stock has a market cap of $13.06 billion, a PE ratio of 31.68, a PEG ratio of 1.76 and a beta of 1.71. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. CarMax has a twelve month low of $65.83 and a twelve month high of $91.25. The firm has a 50-day simple moving average of $79.01 and a 200 day simple moving average of $77.64.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.19. The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 EPS. On average, research analysts forecast that CarMax will post 3.01 EPS for the current year.

Institutional Investors Weigh In On CarMax

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of CarMax by 0.6% during the third quarter. State Street Corp now owns 6,193,174 shares of the company’s stock valued at $479,228,000 after acquiring an additional 36,959 shares during the period. Janus Henderson Group PLC lifted its position in CarMax by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company’s stock valued at $359,216,000 after purchasing an additional 28,466 shares during the period. Geode Capital Management LLC boosted its stake in shares of CarMax by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock valued at $282,479,000 after purchasing an additional 14,903 shares during the last quarter. First Pacific Advisors LP grew its position in shares of CarMax by 2.0% during the 2nd quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock worth $175,005,000 after buying an additional 47,184 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of CarMax by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock worth $147,230,000 after buying an additional 51,397 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.