CarMax (NYSE:KMX) Stock Price Expected to Rise, Truist Financial Analyst Says

CarMax (NYSE:KMX - Free Report) had its price objective upped by Truist Financial from $72.00 to $74.00 in a report issued on Monday,Benzinga reports. They currently have a hold rating on the stock.

KMX has been the subject of several other reports. Royal Bank Of Canada upped their price target on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday. JPMorgan Chase & Co. reduced their price objective on CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. Wall Street Zen raised CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Stephens raised CarMax from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. Finally, Evercore ISI reduced their price target on CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $85.10.

CarMax Price Performance

Shares of CarMax stock traded down $0.80 on Monday, reaching $66.70. 2,376,921 shares of the stock were exchanged, compared to its average volume of 2,363,574. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. The firm has a market cap of $10.18 billion, a PE ratio of 18.43, a P/E/G ratio of 1.10 and a beta of 1.38. The firm's 50 day moving average is $65.70 and its 200-day moving average is $75.12. CarMax has a one year low of $61.34 and a one year high of $91.25.

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

Insider Activity

In other CarMax news, Director Mitchell D. Steenrod bought 1,300 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were bought at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the transaction, the director now directly owns 33,577 shares in the company, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On CarMax

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

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.