CarMax (NYSE:KMX) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of CarMax (NYSE:KMX - Free Report) in a research report released on Tuesday, Benzinga reports. Wedbush currently has a $90.00 target price on the stock.

Several other equities research analysts have also commented on the stock. Bank of America boosted their target price on shares of CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a research report on Thursday, February 29th. Evercore ISI cut their target price on shares of CarMax from $85.00 to $74.00 and set an in-line rating for the company in a research note on Friday. Truist Financial cut their target price on shares of CarMax from $75.00 to $72.00 and set a hold rating for the company in a research note on Friday. Robert W. Baird cut their target price on shares of CarMax from $88.00 to $84.00 and set an outperform rating for the company in a research note on Friday. Finally, Needham & Company LLC cut their target price on shares of CarMax from $99.00 to $91.00 and set a buy rating for the company in a research note on Friday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, CarMax has an average rating of Hold and an average target price of $77.42.

CarMax Stock Performance

NYSE:KMX traded up $0.35 during midday trading on Tuesday, reaching $69.81. The stock had a trading volume of 3,049,318 shares, compared to its average volume of 2,005,632. The firm has a fifty day simple moving average of $78.73 and a two-hundred day simple moving average of $72.10. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. The stock has a market cap of $11.02 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.09 and a beta of 1.61.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.13). The firm had revenue of $5.63 billion during the quarter, compared to analysts' expectations of $5.76 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.44 earnings per share. On average, equities analysts expect that CarMax will post 3.58 EPS for the current year.

Insider Activity

In other news, VP Jill A. Livesay sold 14,199 shares of the company's stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the completion of the transaction, the vice president now owns 9,068 shares of the company's stock, valued at approximately $642,830.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the completion of the sale, the vice president now owns 9,068 shares of the company's stock, valued at approximately $642,830.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Diane L. Cafritz sold 22,000 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the sale, the executive vice president now directly owns 5,073 shares of the company's stock, valued at approximately $355,515.84. The disclosure for this sale can be found here. Insiders sold a total of 38,929 shares of company stock valued at $2,740,901 in the last 90 days. 1.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CarMax

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in CarMax by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company's stock worth $1,387,222,000 after acquiring an additional 222,132 shares during the period. BlackRock Inc. boosted its holdings in CarMax by 1.8% in the 1st quarter. BlackRock Inc. now owns 10,633,886 shares of the company's stock worth $683,546,000 after acquiring an additional 184,104 shares during the period. Akre Capital Management LLC boosted its holdings in CarMax by 0.7% in the 1st quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company's stock worth $708,159,000 after acquiring an additional 49,780 shares during the period. State Street Corp boosted its holdings in CarMax by 3.2% in the 2nd quarter. State Street Corp now owns 6,220,212 shares of the company's stock worth $520,632,000 after acquiring an additional 193,111 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its holdings in CarMax by 3.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company's stock worth $392,458,000 after acquiring an additional 210,440 shares during the period.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.