CarMax (NYSE:KMX) Stock Rating Upgraded by Stephens

CarMax (NYSE:KMX) was upgraded by investment analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday,Finviz reports. The firm currently has a $90.00 price target on the stock, up from their previous price target of $86.00. Stephens’ price objective suggests a potential upside of 21.13% from the company’s previous close.

Several other brokerages have also recently issued reports on KMX. Mizuho boosted their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Truist Financial boosted their price target on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a report on Friday, December 20th. Evercore ISI dropped their price objective on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. Needham & Company LLC lifted their target price on shares of CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price target on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $90.82.

CarMax Trading Up 1.0 %

NYSE KMX opened at $74.30 on Wednesday. CarMax has a 1 year low of $65.83 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The company has a market capitalization of $11.43 billion, a PE ratio of 25.19, a P/E/G ratio of 1.67 and a beta of 1.76. The company has a fifty day moving average of $80.67 and a 200 day moving average of $79.37.

Insider Activity

In other news, SVP Jon G. Daniels sold 10,000 shares of CarMax stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $85.30, for a total transaction of $853,000.00. Following the sale, the senior vice president now owns 995 shares of the company’s stock, valued at approximately $84,873.50. The trade was a 90.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the transaction, the senior vice president now owns 227 shares in the company, valued at $19,199.66. This represents a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,709 shares of company stock valued at $8,495,379. 1.66% of the stock is currently owned by insiders.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently modified their holdings of KMX. Citigroup Inc. increased its position in shares of CarMax by 2.6% during the third quarter. Citigroup Inc. now owns 149,448 shares of the company’s stock valued at $11,564,000 after acquiring an additional 3,738 shares during the last quarter. Cerity Partners LLC boosted its position in shares of CarMax by 128.0% during the 3rd quarter. Cerity Partners LLC now owns 38,353 shares of the company’s stock worth $2,968,000 after purchasing an additional 21,528 shares during the period. Larson Financial Group LLC increased its holdings in CarMax by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock valued at $57,000 after purchasing an additional 353 shares during the last quarter. Centaurus Financial Inc. increased its holdings in CarMax by 10.0% in the 3rd quarter. Centaurus Financial Inc. now owns 7,547 shares of the company’s stock valued at $584,000 after purchasing an additional 686 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in CarMax by 7.4% in the third quarter. Daiwa Securities Group Inc. now owns 27,036 shares of the company’s stock valued at $2,092,000 after purchasing an additional 1,871 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.