Needham & Company LLC Reaffirms Buy Rating for CarMax (NYSE:KMX)

Needham & Company LLC reaffirmed their buy rating on shares of CarMax (NYSE:KMX) in a report published on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $90.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of CarMax to a “sell” rating in a research note on Friday, July 26th. Truist Financial lifted their target price on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Royal Bank of Canada increased their price target on CarMax from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Mizuho lowered their price objective on CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 18th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CarMax currently has an average rating of “Hold” and an average target price of $79.45.

CarMax Price Performance

Shares of CarMax stock opened at $74.81 on Wednesday. The stock has a market cap of $11.68 billion, a P/E ratio of 29.22, a P/E/G ratio of 1.46 and a beta of 1.68. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The stock’s fifty day moving average is $78.05 and its 200 day moving average is $75.39. CarMax has a one year low of $59.66 and a one year high of $88.22.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period last year, the business earned $0.75 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts anticipate that CarMax will post 2.97 earnings per share for the current year.

Insider Buying and Selling at CarMax

In other news, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $965,567.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CarMax news, COO Charles Joseph Wilson sold 10,021 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the transaction, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KMX. Vulcan Value Partners LLC increased its stake in CarMax by 299.7% during the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after acquiring an additional 1,369,986 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of CarMax by 1,327.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock valued at $89,070,000 after purchasing an additional 951,558 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in CarMax by 3,094.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock valued at $51,949,000 after buying an additional 577,685 shares during the period. Marshall Wace LLP raised its holdings in CarMax by 87.6% during the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after buying an additional 541,967 shares during the period. Finally, AQR Capital Management LLC lifted its position in CarMax by 212.8% in the second quarter. AQR Capital Management LLC now owns 488,836 shares of the company’s stock worth $35,851,000 after buying an additional 332,574 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.