Mizuho Forecasts Strong Price Appreciation for CarMax (NYSE:KMX) Stock

by · The Markets Daily

CarMax (NYSE:KMX – Get Free Report) had its price target upped by Mizuho from $72.00 to $80.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price indicates a potential downside of 5.07% from the company’s previous close.

A number of other equities analysts also recently issued reports on KMX. Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. Evercore ISI boosted their price target on shares of CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a research report on Thursday. Oppenheimer reiterated an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted their target price on shares of CarMax from $65.00 to $70.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of CarMax in a report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $85.17.

Get Our Latest Report on CarMax

CarMax Trading Up 0.0 %

KMX opened at $84.27 on Friday. The company’s 50 day moving average price is $79.01 and its two-hundred day moving average price is $77.64. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.76 and a beta of 1.71. CarMax has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68.

CarMax (NYSE:KMX – Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.19. The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. CarMax’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, research analysts predict that CarMax will post 3.01 earnings per share for the current year.

Hedge Funds Weigh In On CarMax

A number of institutional investors have recently modified their holdings of the company. State Street Corp increased its stake in CarMax by 0.6% during the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company’s stock valued at $479,228,000 after purchasing an additional 36,959 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of CarMax by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company’s stock worth $359,216,000 after acquiring an additional 28,466 shares during the last quarter. Geode Capital Management LLC lifted its position in CarMax by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock valued at $282,479,000 after acquiring an additional 14,903 shares in the last quarter. First Pacific Advisors LP boosted its stake in CarMax by 2.0% during the 2nd quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock valued at $175,005,000 after purchasing an additional 47,184 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in CarMax by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock worth $147,230,000 after purchasing an additional 51,397 shares in 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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