CarMax (NYSE:KMX) Stock Rating Reaffirmed by Wedbush

CarMax (NYSE:KMX)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a research report issued on Tuesday, Benzinga reports. They presently have a $85.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 3.13% from the company’s current price.

Several other equities analysts have also recently issued reports on KMX. Robert W. Baird upped their price target on shares of CarMax from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. StockNews.com began coverage on CarMax in a research report on Thursday, August 17th. They set a “sell” rating for the company. Truist Financial lifted their target price on CarMax from $64.00 to $82.00 in a report on Monday, June 26th. Northcoast Research cut CarMax from a “buy” rating to a “neutral” rating in a research note on Monday, June 12th. Finally, Morgan Stanley lifted their price objective on CarMax from $75.00 to $80.00 in a research note on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.60.

CarMax Trading Down 1.0 %

Shares of CarMax stock opened at $82.42 on Tuesday. The firm’s 50 day moving average is $82.77 and its 200 day moving average is $75.21. The firm has a market capitalization of $13.04 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44. CarMax has a 1 year low of $52.10 and a 1 year high of $87.50. The company has a current ratio of 2.54, a quick ratio of 0.61 and a debt-to-equity ratio of 3.12.

CarMax (NYSE:KMX) last posted its earnings results on Friday, June 23rd. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $0.79 by $0.65. CarMax had a return on equity of 7.46% and a net margin of 1.64%. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same period last year, the company earned $1.56 earnings per share. The business’s quarterly revenue was down 17.4% on a year-over-year basis. Equities research analysts forecast that CarMax will post 3.02 earnings per share for the current fiscal year.

Insider Buying and Selling at CarMax

In other news, SVP Jon G. Daniels sold 27,783 shares of CarMax stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $82.42, for a total value of $2,289,874.86. Following the completion of the sale, the senior vice president now owns 7,255 shares in the company, valued at approximately $597,957.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Jon G. Daniels sold 27,783 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $82.42, for a total transaction of $2,289,874.86. Following the transaction, the senior vice president now owns 7,255 shares of the company’s stock, valued at approximately $597,957.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jill A. Livesay sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $84.50, for a total value of $1,183,000.00. Following the completion of the sale, the vice president now directly owns 9,068 shares of the company’s stock, valued at approximately $766,246. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,993 shares of company stock valued at $25,375,428. 1.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC bought a new position in shares of CarMax during the first quarter valued at about $25,000. Park Place Capital Corp lifted its position in shares of CarMax by 125.8% during the 2nd quarter. Park Place Capital Corp now owns 298 shares of the company’s stock worth $25,000 after buying an additional 166 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of CarMax by 100.0% in the 3rd quarter. CENTRAL TRUST Co now owns 400 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Blume Capital Management Inc. bought a new position in shares of CarMax in the first quarter valued at approximately $31,000. Finally, Capital Advisors Ltd. LLC increased its position in shares of CarMax by 456.5% during the second quarter. Capital Advisors Ltd. LLC now owns 384 shares of the company’s stock valued at $32,000 after acquiring an additional 315 shares during the last quarter.

CarMax Company Profile

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.