Analysts Set CarMax, Inc (NYSE:KMX) PT at $97.58

Shares of CarMax, Inc (NYSE:KMX) have received an average rating of “Buy” from the fifteen analysts that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $97.58.

KMX has been the topic of several analyst reports. William Blair reaffirmed a “buy” rating on shares of CarMax in a research note on Friday. Guggenheim upped their price target on shares of CarMax from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley lifted their price target on CarMax from $97.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Buckingham Research boosted their price objective on CarMax from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Stephens increased their price objective on CarMax from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th.

In other news, SVP Darren C. Newberry sold 24,551 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $90.51, for a total value of $2,222,111.01. Following the completion of the sale, the senior vice president now owns 7,413 shares in the company, valued at $670,950.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.09% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of CarMax by 0.6% in the second quarter. Vanguard Group Inc. now owns 18,089,921 shares of the company’s stock valued at $1,570,748,000 after buying an additional 100,745 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of CarMax by 10,954.6% in the second quarter. Nuveen Asset Management LLC now owns 3,005,757 shares of the company’s stock valued at $260,989,000 after purchasing an additional 2,978,567 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of CarMax by 61.2% in the second quarter. Wells Fargo & Company MN now owns 1,493,476 shares of the company’s stock worth $129,679,000 after buying an additional 566,892 shares during the period. Holocene Advisors LP acquired a new stake in shares of CarMax in the second quarter worth $128,466,000. Finally, Giverny Capital Inc. grew its holdings in shares of CarMax by 2.6% during the second quarter. Giverny Capital Inc. now owns 1,220,105 shares of the company’s stock valued at $105,942,000 after buying an additional 31,307 shares in the last quarter.

NYSE KMX traded down $0.55 during trading hours on Friday, hitting $96.82. The company had a trading volume of 11,287 shares, compared to its average volume of 885,637. The firm’s 50 day moving average is $96.02 and its 200 day moving average is $87.54. The company has a market capitalization of $16.01 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a debt-to-equity ratio of 4.11, a current ratio of 2.42 and a quick ratio of 0.56. CarMax has a fifty-two week low of $55.24 and a fifty-two week high of $100.49.

CarMax (NYSE:KMX) last posted its earnings results on Tuesday, September 24th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.06 billion. CarMax had a net margin of 4.60% and a return on equity of 25.50%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. On average, equities analysts anticipate that CarMax will post 5.31 EPS for the current year.

CarMax Company Profile

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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