CarMax (NYSE:KMX) Given New $98.00 Price Target at Needham & Company LLC

CarMax (NYSE:KMX) had its price objective hoisted by equities researchers at Needham & Company LLC from $90.00 to $98.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 16.35% from the stock’s previous close.

A number of other analysts have also recently issued reports on KMX. Mizuho upped their target price on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday. Truist Financial increased their price objective on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Royal Bank of Canada upped their price target on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday. Wedbush reissued an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research note on Friday, October 4th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.92.

CarMax Trading Up 3.5 %

Shares of CarMax stock opened at $84.23 on Friday. 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 company has a fifty day simple moving average of $78.77 and a 200-day simple moving average of $77.55. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 1.76 and a beta of 1.71. CarMax has a 12-month low of $65.83 and a 12-month high of $91.25.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.19. The company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. CarMax’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, equities analysts forecast that CarMax will post 3.01 EPS for the current fiscal year.

Hedge Funds Weigh In On CarMax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas purchased a new stake in shares of CarMax in the third quarter valued at approximately $2,229,000. Franklin Resources Inc. boosted its position in shares of CarMax by 53.3% during the 3rd quarter. Franklin Resources Inc. now owns 27,362 shares of the company’s stock worth $1,999,000 after purchasing an additional 9,509 shares in the last quarter. Tidal Investments LLC grew its stake in shares of CarMax by 141.8% during the 3rd quarter. Tidal Investments LLC now owns 13,019 shares of the company’s stock worth $1,007,000 after purchasing an additional 7,635 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of CarMax during the 3rd quarter worth $351,000. Finally, World Investment Advisors LLC purchased a new position in shares of CarMax in the 3rd quarter valued at about $6,942,000.

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.