CarMax (NYSE:KMX) Receives Outperform Rating from Wedbush

Key Points

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CarMax (NYSE:KMX - Get Free Report)'s stock had its "outperform" rating restated by Wedbush in a report released on Tuesday,Benzinga reports. They presently have a $84.00 price target on the stock. Wedbush's price objective would indicate a potential upside of 41.73% from the stock's current price.

Several other equities research analysts have also weighed in on the company. Evercore ISI decreased their price objective on CarMax from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Morgan Stanley initiated coverage on CarMax in a research note on Tuesday, July 1st. They set an "overweight" rating and a $80.00 target price on the stock. Mizuho decreased their price objective on CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. Finally, Royal Bank Of Canada lifted their price target on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $81.50.

CarMax Stock Performance

Shares of NYSE KMX opened at $59.27 on Tuesday. CarMax has a one year low of $54.53 and a one year high of $91.25. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 0.94 and a beta of 1.36. The business has a fifty day simple moving average of $63.08 and a 200 day simple moving average of $69.50. 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 posted its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter in the previous year, the company posted $0.97 EPS. CarMax's revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that CarMax will post 3.23 EPS for the current year.

Insider Buying and Selling at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the transaction, the executive vice president directly owned 2,779 shares of the company's stock, valued at $196,308.56. The trade was a 35.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in CarMax by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company's stock worth $1,571,000 after purchasing an additional 2,375 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in CarMax in the first quarter valued at approximately $1,753,000. Sequoia Financial Advisors LLC boosted its holdings in shares of CarMax by 5.5% in the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock worth $262,000 after acquiring an additional 176 shares during the period. Asset Management One Co. Ltd. boosted its holdings in CarMax by 3.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company's stock valued at $4,726,000 after purchasing an additional 2,078 shares during the period. Finally, GAMMA Investing LLC raised its stake in CarMax by 12.6% in the first quarter. GAMMA Investing LLC now owns 6,620 shares of the company's stock valued at $516,000 after purchasing an additional 742 shares in the last quarter.

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.

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