CarMax’s (KMX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of CarMax (NYSE:KMX) in a report issued on Wednesday, Benzinga reports. The brokerage currently has a $90.00 price target on the stock.

Several other brokerages also recently weighed in on KMX. Royal Bank of Canada raised their price target on shares of CarMax from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Truist Financial lifted their target price on CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Evercore ISI lowered their price target on CarMax from $79.00 to $76.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley reissued an “overweight” rating and issued a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Finally, Wedbush restated an “outperform” rating and set a $95.00 target price on shares of CarMax in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, CarMax has a consensus rating of “Hold” and a consensus target price of $79.73.

CarMax Trading Down 0.6 %

CarMax stock opened at $74.70 on Wednesday. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. The business’s fifty day simple moving average is $78.02 and its two-hundred day simple moving average is $75.31. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68.

CarMax (NYSE:KMX) last announced 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). The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company posted $0.75 earnings per share. As a group, equities analysts predict that CarMax will post 2.97 earnings per share for the current fiscal year.

Insider Buying and Selling at CarMax

In other news, COO Charles Joseph Wilson sold 10,021 shares of CarMax 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the transaction, the chief operating officer now owns 15,609 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $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 owned by corporate insiders.

Hedge Funds Weigh In On CarMax

A number of hedge funds have recently modified their holdings of KMX. OLD National Bancorp IN lifted its stake in shares of CarMax by 1.6% during the 3rd quarter. OLD National Bancorp IN now owns 209,276 shares of the company’s stock valued at $16,194,000 after buying an additional 3,307 shares in the last quarter. Raymond James & Associates raised its holdings in CarMax by 4.1% during the third quarter. Raymond James & Associates now owns 248,148 shares of the company’s stock valued at $19,202,000 after acquiring an additional 9,778 shares during the period. Blue Trust Inc. lifted its position in shares of CarMax by 108.2% in the third quarter. Blue Trust Inc. now owns 1,043 shares of the company’s stock valued at $76,000 after acquiring an additional 542 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in shares of CarMax by 2.3% in the third quarter. Stratos Wealth Advisors LLC now owns 8,652 shares of the company’s stock valued at $670,000 after acquiring an additional 194 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of CarMax by 54.2% in the third quarter. V Square Quantitative Management LLC now owns 7,308 shares of the company’s stock worth $565,000 after acquiring an additional 2,570 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.