CarMax (NYSE:KMX) Given New $90.00 Price Target at Needham & Company LLC

CarMax (NYSE:KMX) had its target price upped by Needham & Company LLC from $87.00 to $90.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on KMX. Oppenheimer reiterated an outperform rating and set a $105.00 target price on shares of CarMax in a research report on Monday, June 24th. Wedbush reiterated an outperform rating and issued a $95.00 target price on shares of CarMax in a research report on Tuesday, September 17th. Morgan Stanley restated an overweight rating and set a $80.00 price target on shares of CarMax in a research report on Friday, June 21st. StockNews.com upgraded CarMax to a sell rating in a report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price objective on CarMax from $73.00 to $75.00 and gave the stock an outperform rating in a research note on Monday, June 24th. Three 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. According to data from MarketBeat.com, CarMax presently has a consensus rating of Hold and an average target price of $79.73.

CarMax Stock Up 0.1 %

KMX opened at $77.38 on Friday. The company has a fifty day moving average of $79.64 and a two-hundred day moving average of $76.26. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 1.56 and a beta of 1.69. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. 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 (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. CarMax’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, research analysts expect that CarMax will post 2.99 earnings per share for the current year.

Insider Activity at CarMax

In other CarMax 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 transaction of $9,554,400.00. Following the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP John M. Stuckey III sold 19,673 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $82.01, for a total value of $1,613,382.73. Following the completion of the sale, the senior vice president now owns 969 shares of the company’s stock, valued at approximately $79,467.69. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the sale, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,012 shares of company stock valued at $14,803,843. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Centaurus Financial Inc. raised its holdings in CarMax by 49.9% in the 2nd quarter. Centaurus Financial Inc. now owns 6,861 shares of the company’s stock valued at $503,000 after buying an additional 2,284 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of CarMax in the 2nd quarter valued at approximately $814,000. Cetera Investment Advisers lifted its holdings in shares of CarMax by 12.3% in the 2nd quarter. Cetera Investment Advisers now owns 141,266 shares of the company’s stock worth $10,360,000 after acquiring an additional 15,476 shares during the last quarter. Truist Financial Corp boosted its position in shares of CarMax by 1.3% during the 2nd quarter. Truist Financial Corp now owns 74,647 shares of the company’s stock worth $5,475,000 after purchasing an additional 951 shares during the period. Finally, Quarry LP boosted its position in shares of CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after purchasing an additional 184 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.