Wedbush Reiterates Outperform Rating for CarMax (NYSE:KMX)

CarMax (NYSE:KMX)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report released on Tuesday,Benzinga reports. They presently have a $100.00 price target on the stock. Wedbush’s price target suggests a potential upside of 20.90% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Truist Financial boosted their price target on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. Needham & Company LLC upped their target price on shares of CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Evercore ISI dropped their price target on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.64.

CarMax Stock Performance

Shares of CarMax stock opened at $82.71 on Tuesday. The stock has a market cap of $12.72 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.67 and a beta of 1.76. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. CarMax has a 1 year low of $65.83 and a 1 year high of $91.25. The firm’s 50-day moving average is $80.51 and its 200 day moving average is $79.36.

Insider Buying and Selling at CarMax

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the sale, the senior vice president now owns 227 shares of the company’s stock, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mohammad Shamim sold 12,845 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $81.94, for a total value of $1,052,519.30. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at $961,811.72. This trade represents a 52.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,723 shares of company stock valued at $2,925,218. Insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently modified their holdings of KMX. FMR LLC lifted its stake in CarMax by 2,883.1% in the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after purchasing an additional 1,713,379 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CarMax by 26.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,178 shares of the company’s stock worth $2,877,000 after buying an additional 7,795 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in CarMax by 13.4% during the third quarter. Public Sector Pension Investment Board now owns 6,753 shares of the company’s stock valued at $523,000 after buying an additional 800 shares during the last quarter. Paloma Partners Management Co purchased a new position in CarMax during the 3rd quarter valued at approximately $394,000. Finally, Centiva Capital LP bought a new stake in CarMax in the 3rd quarter worth approximately $559,000.

CarMax Company Profile

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.