CarMax’s (KMX) “Outperform” Rating Reiterated at Wedbush

by · The Markets Daily

Wedbush reaffirmed their outperform rating on shares of CarMax (NYSE:KMX – Free Report) in a research note published on Tuesday,Benzinga reports. They currently have a $100.00 price target on the stock.

KMX has been the topic of a number of other reports. Mizuho raised 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. Evercore ISI decreased their price target 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. Royal Bank of Canada upped their price objective on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. lowered their price target on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.64.

View Our Latest Report on CarMax

CarMax Stock Down 7.6 %

KMX opened at $76.44 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The business’s fifty day simple moving average is $80.40 and its 200 day simple moving average is $79.34. CarMax has a 52 week low of $65.83 and a 52 week high of $91.25. The stock has a market cap of $11.76 billion, a PE ratio of 25.91, a P/E/G ratio of 1.67 and a beta of 1.76.

Insider Activity

In related news, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now owns 227 shares in the company, valued at $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total transaction of $407,150.00. Following the completion of the sale, the chief financial officer now owns 20,260 shares of the company’s stock, valued at $1,649,771.80. This trade represents a 19.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,723 shares of company stock valued at $2,925,218. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KMX. Principal Financial Group Inc. boosted its holdings in shares of CarMax by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock valued at $702,425,000 after buying an additional 282,519 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in CarMax by 348.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock worth $539,213,000 after acquiring an additional 5,122,850 shares in the last quarter. State Street Corp grew its holdings in CarMax by 0.6% in the third quarter. State Street Corp now owns 6,193,174 shares of the company’s stock worth $479,228,000 after purchasing an additional 36,959 shares during the period. Norges Bank bought a new position in shares of CarMax during the fourth quarter valued at approximately $423,187,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of CarMax by 0.6% during the fourth quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company’s stock valued at $381,978,000 after purchasing an additional 29,715 shares during the last quarter.

CarMax Company Profile

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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.

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