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

CarMax (NYSE:KMX) had its price target boosted by JPMorgan Chase & Co. from $55.00 to $65.00 in a research report report published on Thursday, Benzinga reports. They currently have an underweight rating on the stock.

KMX has been the topic of several other reports. StockNews.com raised CarMax to a sell rating in a report on Friday, July 26th. Morgan Stanley reissued an overweight rating and issued a $80.00 price target on shares of CarMax in a report on Friday, June 21st. Argus raised shares of CarMax to a hold rating in a report on Tuesday, June 25th. Truist Financial boosted their target price on shares of CarMax from $66.00 to $70.00 and gave the stock a hold rating in a research note on Monday, June 24th. Finally, Royal Bank of Canada raised their price target on shares of CarMax from $73.00 to $75.00 and gave the company an outperform rating in a research note on Monday, June 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $77.08.

CarMax Stock Performance

NYSE KMX opened at $76.10 on Thursday. The firm has a market capitalization of $11.88 billion, a P/E ratio of 29.73, a PEG ratio of 1.53 and a beta of 1.69. The stock has a 50-day simple moving average of $80.26 and a two-hundred day simple moving average of $76.46. 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 has a fifty-two week low of $59.66 and a fifty-two week high of $88.22.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter last year, the company earned $1.16 EPS. The business’s revenue was down 7.5% on a year-over-year basis. On average, equities analysts forecast that CarMax will post 2.99 earnings per share for the current year.

Insider Buying and Selling at CarMax

In related news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total value of $777,680.28. Following the transaction, the chief financial officer now directly owns 20,260 shares in the company, valued at $1,690,899.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the sale, the chief executive officer now 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 this link. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the transaction, the chief financial officer now owns 20,260 shares of the company’s stock, valued at $1,690,899.60. The disclosure for this sale can be found here. Insiders have sold 185,243 shares of company stock worth $14,893,042 in the last ninety days. 1.66% of the stock is owned by insiders.

Institutional Trading of CarMax

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in CarMax by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after buying an additional 222,132 shares during the period. Morningstar Investment Services LLC increased its position in shares of CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after acquiring an additional 1,326,840 shares during the period. First Pacific Advisors LP raised its stake in shares of CarMax by 2.0% in the second quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock valued at $175,005,000 after acquiring an additional 47,184 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in CarMax by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock valued at $147,230,000 after purchasing an additional 51,397 shares during the period. Finally, Vulcan Value Partners LLC boosted its holdings in 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 purchasing an additional 1,369,986 shares during the period.

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.