Truist Financial Increases CarMax (NYSE:KMX) Price Target to $70.00

CarMax (NYSE:KMX) had its price objective hoisted by Truist Financial from $66.00 to $70.00 in a research report report published on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

KMX has been the subject of several other reports. Morgan Stanley reissued an overweight rating and issued a $80.00 price target on shares of CarMax in a report on Friday, June 21st. JPMorgan Chase & Co. decreased their target price on shares of CarMax from $60.00 to $55.00 and set an underweight rating on the stock in a research report on Monday, April 15th. Bank of America increased their price target on shares of CarMax from $44.00 to $50.00 and gave the company an underperform rating in a report on Thursday, February 29th. Wedbush reissued an outperform rating and set a $90.00 price objective on shares of CarMax in a report on Tuesday, June 18th. Finally, Needham & Company LLC lowered their target price on shares of CarMax from $91.00 to $87.00 and set a buy rating on the stock in a research report on Monday. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $75.50.

CarMax Price Performance

Shares of NYSE KMX opened at $72.73 on Monday. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The company has a market cap of $11.45 billion, a PE ratio of 28.41, a P/E/G ratio of 1.41 and a beta of 1.69. The stock has a fifty day moving average price of $70.45 and a 200 day moving average price of $73.95. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. Sell-side analysts forecast that CarMax will post 3.06 EPS for the current year.

Insider Activity

In related news, EVP Diane L. Cafritz sold 15,356 shares of CarMax stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the sale, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

A number of institutional investors have recently modified their holdings of KMX. Allworth Financial LP grew its stake in CarMax by 153.3% in the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after acquiring an additional 207 shares during the period. Creative Financial Designs Inc. ADV increased its stake in CarMax by 1,081.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after purchasing an additional 400 shares during the last quarter. Mendota Financial Group LLC acquired a new position in CarMax in the fourth quarter valued at $37,000. MCF Advisors LLC purchased a new position in CarMax during the fourth quarter worth about $46,000. Finally, Lindbrook Capital LLC boosted its stake in CarMax by 32.8% in the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after buying an additional 155 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.