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

CarMax (NYSE:KMX - Get Free Report) had its price objective lifted by Truist Financial from $72.00 to $74.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective points to a potential upside of 12.84% from the stock's current price.

Several other research analysts have also commented on the company. Royal Bank Of Canada upped their price objective on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday. Evercore ISI lowered their price target on CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. Cfra Research upgraded CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Finally, Needham & Company LLC restated a "buy" rating and issued a $92.00 target price on shares of CarMax in a research report on Monday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.10.

CarMax Price Performance

Shares of KMX traded down $2.99 during mid-day trading on Monday, reaching $65.58. 1,931,588 shares of the stock traded hands, compared to its average volume of 2,331,956. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 1.14 and a beta of 1.38. CarMax has a 1 year low of $61.34 and a 1 year high of $91.25. The firm has a fifty day moving average price of $65.60 and a 200 day moving average price of $75.35. 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 earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, topping 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 period in the previous year, the business earned $0.97 earnings per share. The firm's revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts predict that CarMax will post 3.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Mitchell D. Steenrod acquired 1,300 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were purchased at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the transaction, the director now owns 33,577 shares of the company's stock, valued at $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in CarMax in the 4th quarter worth approximately $423,187,000. Kovitz Investment Group Partners LLC lifted its stake in CarMax by 348.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock worth $539,213,000 after acquiring an additional 5,122,850 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in CarMax by 626.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company's stock valued at $70,364,000 after acquiring an additional 778,652 shares in the last quarter. AQR Capital Management LLC increased its position in CarMax by 82.9% during the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock valued at $114,465,000 after purchasing an additional 634,390 shares during the period. Finally, GAMMA Investing LLC increased its position in CarMax by 8,675.6% during the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock valued at $40,193,000 after purchasing an additional 509,952 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.

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