CarMax (NYSE:KMX) Now Covered by Analysts at Benchmark

Benchmark assumed coverage on shares of CarMax (NYSE:KMX - Free Report) in a research report sent to investors on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $75.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. Cfra Research raised CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Evercore ISI reduced their target price on CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Morgan Stanley began coverage on CarMax in a report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 target price for the company. Robert W. Baird reduced their target price on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Truist Financial upped their target price on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CarMax has an average rating of "Moderate Buy" and an average target price of $83.67.

CarMax Price Performance

KMX stock traded up $0.37 during trading hours on Thursday, hitting $62.65. 2,810,909 shares of the stock traded hands, compared to its average volume of 2,426,183. The stock has a 50-day simple moving average of $66.21 and a 200 day simple moving average of $73.15. CarMax has a one year low of $61.34 and a one year high of $91.25. The company has a market cap of $9.40 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.01 and a beta of 1.38. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86.

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

Insider Transactions at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total transaction of $108,785.60. Following the completion of the sale, the executive vice president directly owned 2,779 shares of the company's stock, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mitchell D. Steenrod purchased 1,300 shares of the business's stock in a transaction dated Thursday, April 24th. The shares were purchased at an average cost of $65.49 per share, with a total value of $85,137.00. Following the completion of the purchase, the director directly owned 33,577 shares in the company, valued at approximately $2,198,957.73. This represents a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

Hedge funds and other institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in shares of CarMax in the 4th quarter valued at approximately $2,173,000. HighTower Advisors LLC raised its stake in shares of CarMax by 41.5% in the 4th quarter. HighTower Advisors LLC now owns 8,021 shares of the company's stock valued at $656,000 after acquiring an additional 2,353 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of CarMax by 10.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock valued at $261,000 after acquiring an additional 307 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of CarMax by 91.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company's stock valued at $82,000 after acquiring an additional 480 shares in the last quarter. Finally, Madison Investment Advisors LLC bought a new position in shares of CarMax in the 4th quarter valued at approximately $819,000.

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.