CarMax (NYSE:KMX) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of CarMax (NYSE:KMX - Free Report) in a report released on Monday,Benzinga reports. The brokerage currently has a $92.00 price target on the stock.

Several other research analysts have also commented on KMX. Evercore ISI decreased their target price on CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. JPMorgan Chase & Co. lowered their target price 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. Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Robert W. Baird decreased their price target on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Cfra Research raised shares of CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, CarMax currently has an average rating of "Moderate Buy" and a consensus price target of $85.10.

CarMax Stock Down 1.2%

KMX traded down $0.80 on Monday, reaching $66.70. The company's stock had a trading volume of 2,376,921 shares, compared to its average volume of 2,363,574. CarMax has a 1 year low of $61.34 and a 1 year high of $91.25. The business's 50 day moving average is $65.70 and its 200 day moving average is $75.12. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.10 and a beta of 1.38.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The firm had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The firm's quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts forecast that CarMax will post 3.23 EPS for the current fiscal year.

Insider Transactions at CarMax

In other news, Director Mitchell D. Steenrod purchased 1,300 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was purchased at an average cost of $65.49 per share, with a total value of $85,137.00. Following the purchase, the director now owns 33,577 shares in the company, valued at $2,198,957.73. This trade represents a 4.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Redmond Asset Management LLC boosted its holdings in CarMax by 0.3% during the first quarter. Redmond Asset Management LLC now owns 50,803 shares of the company's stock worth $3,959,000 after buying an additional 152 shares in the last quarter. Maia Wealth LLC increased its position in shares of CarMax by 0.6% in the first quarter. Maia Wealth LLC now owns 26,099 shares of the company's stock worth $2,034,000 after acquiring an additional 157 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock valued at $419,000 after acquiring an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CarMax by 0.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company's stock valued at $2,446,000 after acquiring an additional 173 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in CarMax by 5.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock worth $262,000 after purchasing an additional 176 shares during the period.

About CarMax

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.