CarMax (NYSE:KMX) PT Raised to $75.00

CarMax (NYSE:KMX) had its target price boosted by analysts at Truist Financial from $70.00 to $75.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential downside of 1.96% from the company’s current price.

A number of other research analysts have also commented on the company. Evercore ISI upped their price objective on CarMax from $68.00 to $72.00 and gave the company an “in-line” rating in a report on Tuesday, July 16th. Royal Bank of Canada increased their price target on CarMax from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Needham & Company LLC dropped their price objective on CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a report on Monday, June 24th. Wedbush reiterated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research note on Tuesday, September 17th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $80.00 price objective on shares of CarMax in a research note on Friday, June 21st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.50.

CarMax Trading Up 0.1 %

Shares of KMX stock opened at $76.50 on Monday. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a market capitalization of $11.94 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.69. The firm has a 50 day moving average price of $80.00 and a two-hundred day moving average price of $76.40. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95.

Insiders Place Their Bets

In other news, CEO William D. Nash sold 120,000 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mohammad Shamim sold 25,000 shares of the company’s 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 sale, the executive vice president now owns 11,738 shares in the company, valued at approximately $965,567.88. The disclosure for this sale can be found here. Insiders sold a total of 184,012 shares of company stock valued at $14,803,843 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

A number of institutional investors have recently modified their holdings of KMX. Gilbert & Cook Inc. lifted its holdings in shares of CarMax by 5.7% in the fourth quarter. Gilbert & Cook Inc. now owns 8,011 shares of the company’s stock valued at $615,000 after purchasing an additional 431 shares in the last quarter. D.A. Davidson & CO. grew its stake in CarMax by 3.5% during the fourth quarter. D.A. Davidson & CO. now owns 11,850 shares of the company’s stock valued at $909,000 after acquiring an additional 400 shares in the last quarter. Franklin Resources Inc. raised its position in shares of CarMax by 1.3% in the fourth quarter. Franklin Resources Inc. now owns 16,706 shares of the company’s stock worth $1,282,000 after buying an additional 212 shares in the last quarter. Intech Investment Management LLC grew its stake in CarMax by 18.9% in the 4th quarter. Intech Investment Management LLC now owns 42,950 shares of the company’s stock worth $3,296,000 after buying an additional 6,816 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of CarMax by 14.3% during the 4th quarter. Hsbc Holdings PLC now owns 135,905 shares of the company’s stock valued at $10,430,000 after purchasing an additional 17,004 shares during the last quarter.

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.