CarMax's (KMX) "Outperform" Rating Reiterated at Wedbush

CarMax (NYSE:KMX - Get Free Report)'s stock had its "outperform" rating reaffirmed by Wedbush in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $90.00 price target on the stock. Wedbush's price target suggests a potential upside of 39.16% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC lowered their target price on CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. Finally, Cfra Research raised shares of CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $85.82.

CarMax Trading Up 0.4%

Shares of CarMax stock traded up $0.25 during trading hours on Wednesday, reaching $64.68. The stock had a trading volume of 1,121,614 shares, compared to its average volume of 2,301,096. The company has a current ratio of 2.31, a quick ratio of 0.52 and a debt-to-equity ratio of 2.91. CarMax has a 1 year low of $61.34 and a 1 year high of $91.25. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 1.10 and a beta of 1.38. The firm has a 50 day simple moving average of $65.96 and a two-hundred day simple moving average of $75.79.

Insiders Place Their Bets

In other news, Director Mitchell D. Steenrod acquired 1,300 shares of CarMax stock in a transaction on Thursday, April 24th. The stock was bought 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 now owns 33,577 shares of the company's stock, valued at $2,198,957.73. This represents a 4.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by insiders.

Institutional Investors Weigh In On CarMax

Several institutional investors have recently made changes to their positions in KMX. Zions Bancorporation National Association UT bought a new position in shares of CarMax during the 1st quarter worth about $27,000. Accent Capital Management LLC bought a new stake in shares of CarMax in the 1st quarter valued at about $34,000. Cromwell Holdings LLC raised its stake in CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company's stock worth $35,000 after buying an additional 217 shares during the period. Strengthening Families & Communities LLC boosted its holdings in shares of CarMax by 93.1% in the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock valued at $39,000 after buying an additional 256 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of CarMax by 62.7% during the fourth quarter. Allworth Financial LP now owns 646 shares of the company's stock worth $51,000 after buying an additional 249 shares in the last quarter.

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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