CarMax (NYSE:KMX) Price Target Raised to $65.00

CarMax (NYSE:KMX) had its price objective increased by JPMorgan Chase & Co. from $55.00 to $65.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an underweight rating on the stock.

Other research analysts have also issued reports about the stock. Oppenheimer reiterated an outperform rating and set a $105.00 price objective on shares of CarMax in a report on Monday, June 24th. Argus raised shares of CarMax to a hold rating in a research note on Tuesday, June 25th. Truist Financial boosted their price objective on shares of CarMax from $66.00 to $70.00 and gave the company a hold rating in a research note on Monday, June 24th. Needham & Company LLC cut their target price on CarMax from $91.00 to $87.00 and set a buy rating on the stock in a research report on Monday, June 24th. Finally, Royal Bank of Canada boosted their price target on CarMax from $73.00 to $75.00 and gave the company an outperform rating in a research report on Monday, June 24th. Three 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 has a consensus rating of Hold and a consensus target price of $77.08.

CarMax Trading Down 1.7 %

Shares of KMX opened at $76.10 on Thursday. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The company has a market capitalization of $11.88 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 1.53 and a beta of 1.69. The stock has a fifty day moving average of $80.26 and a two-hundred day moving average of $76.52. 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 released its earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. As a group, analysts forecast that CarMax will post 2.99 EPS for the current year.

Insider Buying and Selling at CarMax

In other CarMax news, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the transaction, the senior vice president now owns 995 shares in the company, valued at approximately $72,097.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CarMax news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at $72,097.70. The disclosure for this sale can be found here. Insiders sold 185,243 shares of company stock valued at $14,893,042 over the last 90 days. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of CarMax

Institutional investors have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. lifted its position in shares of CarMax by 5.7% during the fourth 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 last quarter. D.A. Davidson & CO. lifted its holdings in CarMax by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 11,850 shares of the company’s stock worth $909,000 after buying an additional 400 shares during the last quarter. Franklin Resources Inc. grew its position in shares of CarMax by 1.3% in the 4th quarter. Franklin Resources Inc. now owns 16,706 shares of the company’s stock worth $1,282,000 after acquiring an additional 212 shares in the last quarter. King Luther Capital Management Corp increased its holdings in shares of CarMax by 2.3% in the 4th quarter. King Luther Capital Management Corp now owns 57,385 shares of the company’s stock valued at $4,404,000 after acquiring an additional 1,311 shares during the last quarter. Finally, ProVise Management Group LLC lifted its stake in CarMax by 2.3% during the fourth quarter. ProVise Management Group LLC now owns 60,031 shares of the company’s stock worth $4,607,000 after purchasing an additional 1,330 shares during 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.