CarMax (NYSE:KMX) Given New $101.00 Price Target at Needham & Company LLC

CarMax (NYSE:KMX) had its price target lifted by Needham & Company LLC from $98.00 to $101.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on KMX. Mizuho increased their price target on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. raised their target price on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Truist Financial raised their price objective on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. 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 target price for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $85.42.

CarMax Price Performance

Shares of NYSE KMX opened at $84.18 on Monday. The stock has a market cap of $12.95 billion, a P/E ratio of 28.53, a P/E/G ratio of 1.66 and a beta of 1.72. The firm’s 50-day simple moving average is $83.08 and its 200 day simple moving average is $79.54. CarMax has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. CarMax’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. Equities analysts expect that CarMax will post 3.25 EPS for the current year.

Insider Buying and Selling

In other CarMax news, VP Jill A. Livesay sold 13,009 shares of CarMax stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the transaction, the vice president now owns 9,448 shares of the company’s stock, valued at $765,288. The trade was a 57.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jon G. Daniels sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $85.30, for a total transaction of $853,000.00. Following the completion of the sale, the senior vice president now directly owns 995 shares of the company’s stock, valued at $84,873.50. This trade represents a 90.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 264,467 shares of company stock valued at $21,915,445. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cromwell Holdings LLC boosted its position in CarMax by 104.8% during the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after purchasing an additional 217 shares during the last quarter. Ieq Capital LLC lifted its holdings in shares of CarMax by 603.2% during the 4th quarter. Ieq Capital LLC now owns 110,691 shares of the company’s stock valued at $9,050,000 after buying an additional 94,950 shares during the last quarter. Timber Creek Capital Management LLC grew its stake in shares of CarMax by 0.3% in the 4th quarter. Timber Creek Capital Management LLC now owns 57,601 shares of the company’s stock valued at $4,709,000 after buying an additional 145 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in CarMax by 71.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,909 shares of the company’s stock worth $647,000 after buying an additional 3,288 shares during the last quarter. Finally, Empower Advisory Group LLC raised its position in CarMax by 8.4% during the fourth quarter. Empower Advisory Group LLC now owns 4,278 shares of the company’s stock valued at $350,000 after acquiring an additional 331 shares in 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.