Bank of America Raises CarMax (NYSE:KMX) Price Target to $135.00

CarMax (NYSE:KMX) had its target price boosted by equities research analysts at Bank of America from $130.00 to $135.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 25.35% from the stock’s previous close.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. assumed coverage on CarMax in a research report on Monday, June 1st. They set an “overweight” rating and a $105.00 price target on the stock. Royal Bank of Canada lifted their price objective on CarMax from $100.00 to $110.00 in a research report on Tuesday. Oppenheimer lifted their price objective on CarMax from $87.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Guggenheim lifted their price objective on CarMax from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Wedbush lifted their price objective on CarMax from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 18th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $105.62.

KMX traded up $3.40 on Wednesday, hitting $107.70. 15,181 shares of the company were exchanged, compared to its average volume of 1,649,046. The firm has a fifty day simple moving average of $104.45 and a two-hundred day simple moving average of $85.34. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.20 and a current ratio of 2.85. CarMax has a 12 month low of $37.59 and a 12 month high of $109.31. The stock has a market capitalization of $17.01 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 2.87 and a beta of 1.74.

In other CarMax news, EVP Eric M. Margolin sold 23,987 shares of CarMax stock in a transaction on Monday, August 10th. The stock was sold at an average price of $100.94, for a total transaction of $2,421,247.78. Following the completion of the transaction, the executive vice president now owns 39,564 shares in the company, valued at $3,993,590.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Edwin J. Hill sold 101,310 shares of CarMax stock in a transaction on Thursday, July 16th. The shares were sold at an average price of $95.04, for a total value of $9,628,502.40. Following the transaction, the chief operating officer now owns 64,568 shares of the company’s stock, valued at approximately $6,136,542.72. The disclosure for this sale can be found here. Insiders have sold 458,295 shares of company stock valued at $44,382,115 in the last quarter. 1.99% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its stake in CarMax by 18.9% during the second quarter. Principal Financial Group Inc. now owns 10,107,377 shares of the company’s stock valued at $905,115,000 after buying an additional 1,605,516 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of CarMax by 97.1% in the first quarter. Janus Henderson Group PLC now owns 4,980,530 shares of the company’s stock worth $268,102,000 after purchasing an additional 2,454,260 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of CarMax by 2.1% in the first quarter. Nuveen Asset Management LLC now owns 2,949,537 shares of the company’s stock worth $158,774,000 after purchasing an additional 59,608 shares during the last quarter. London Co. of Virginia raised its stake in shares of CarMax by 12.3% in the second quarter. London Co. of Virginia now owns 2,871,016 shares of the company’s stock worth $257,099,000 after purchasing an additional 313,956 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of CarMax by 2.2% in the first quarter. Geode Capital Management LLC now owns 2,573,310 shares of the company’s stock worth $138,254,000 after purchasing an additional 54,329 shares during the last quarter.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.

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