Brokerages Set CarMax, Inc. (NYSE:KMX) PT at $135.92

Shares of CarMax, Inc. (NYSE:KMX) have been assigned an average rating of “Hold” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $135.69.

A number of research firms have commented on KMX. Robert W. Baird lifted their target price on shares of CarMax from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, June 28th. Bank of America lifted their price target on shares of CarMax from $150.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 16th. Stephens upped their price target on shares of CarMax from $154.00 to $163.00 and gave the company an “overweight” rating in a report on Monday, June 28th. Zacks Investment Research cut shares of CarMax from a “buy” rating to a “hold” rating and set a $147.00 price objective for the company. in a research report on Monday. Finally, Royal Bank of Canada upped their price target on shares of CarMax from $148.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, June 28th.

Shares of CarMax stock traded down $1.09 during trading on Thursday, hitting $137.12. The stock had a trading volume of 25,082 shares, compared to its average volume of 1,136,793. The firm has a market cap of $22.34 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 1.04 and a beta of 1.61. The company has a current ratio of 2.24, a quick ratio of 0.69 and a debt-to-equity ratio of 3.22. CarMax has a 12 month low of $84.70 and a 12 month high of $142.08. The business’s 50-day moving average is $131.60 and its 200 day moving average is $128.06.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, June 24th. The company reported $2.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $1.00. CarMax had a net margin of 5.03% and a return on equity of 27.44%. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same period in the prior year, the business posted $0.03 earnings per share. CarMax’s revenue for the quarter was up 138.4% on a year-over-year basis. As a group, equities analysts expect that CarMax will post 7.49 EPS for the current year.

In related news, SVP Charles Joseph Wilson sold 20,599 shares of the company’s stock in a transaction on Tuesday, June 29th. The shares were sold at an average price of $129.86, for a total value of $2,674,986.14. Following the completion of the sale, the senior vice president now owns 34,747 shares in the company, valued at approximately $4,512,245.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Edwin J. Hill sold 86,665 shares of the company’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $130.55, for a total transaction of $11,314,115.75. Following the transaction, the chief operating officer now owns 63,099 shares of the company’s stock, valued at approximately $8,237,574.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 323,968 shares of company stock valued at $43,163,413. Company insiders own 1.76% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Ameritas Investment Company LLC purchased a new position in CarMax in the first quarter valued at approximately $26,000. Arkadios Wealth Advisors raised its stake in shares of CarMax by 364.4% during the second quarter. Arkadios Wealth Advisors now owns 209 shares of the company’s stock valued at $26,000 after purchasing an additional 164 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of CarMax during the first quarter valued at approximately $33,000. E Fund Management Co. Ltd. purchased a new stake in shares of CarMax during the first quarter valued at approximately $38,000. Finally, Private Ocean LLC raised its stake in shares of CarMax by 9,433.3% during the second quarter. Private Ocean LLC now owns 286 shares of the company’s stock valued at $37,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 95.40% of the company’s stock.

About CarMax

CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operator. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment comprises of all aspects of its auto merchandising and service operations.

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Analyst Recommendations for CarMax (NYSE:KMX)

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