Evercore ISI Increases CarMax (NYSE:KMX) Price Target to $85.00

CarMax (NYSE:KMX) had its price target upped by equities research analysts at Evercore ISI from $83.00 to $85.00 in a research note issued on Thursday. The firm presently has a “market perform” rating on the stock. Evercore ISI’s target price suggests a potential upside of 0.43% from the company’s current price.

A number of other equities analysts have also issued reports on the stock. Truist Financial increased their target price on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of CarMax in a report on Wednesday, October 16th. BNP Paribas upgraded CarMax to a “strong sell” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. boosted their price objective on CarMax from $65.00 to $70.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Finally, Stephens initiated coverage on CarMax in a research note on Thursday, December 5th. They set an “equal weight” rating and a $86.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $82.58.

CarMax Stock Performance

Shares of KMX stock traded up $3.22 on Thursday, hitting $84.64. 2,028,177 shares of the stock traded hands, compared to its average volume of 1,920,923. CarMax has a 1-year low of $65.83 and a 1-year high of $91.25. The company’s fifty day moving average is $78.50 and its 200 day moving average is $77.50. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. The company has a market capitalization of $13.11 billion, a PE ratio of 31.82, a PEG ratio of 1.76 and a beta of 1.71.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share 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 analysts’ expectations of $6.05 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that CarMax will post 3.01 earnings per share for the current fiscal year.

Institutional Trading of CarMax

Several hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after acquiring an additional 1,713,379 shares during the last quarter. Vulcan Value Partners LLC boosted its holdings in shares of CarMax by 299.7% in the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after buying an additional 1,369,986 shares during the period. Holocene Advisors LP boosted its stake in CarMax by 740.2% in the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock worth $73,274,000 after purchasing an additional 834,232 shares during the period. Marshall Wace LLP lifted its holdings in shares of CarMax by 87.6% in the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after purchasing an additional 541,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in CarMax by 41.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock valued at $114,471,000 after buying an additional 436,342 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.