CarMax (NYSE:KMX) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of CarMax (NYSE:KMX - Free Report) in a research note released on Monday morning, Marketbeat reports. The brokerage currently has a $90.00 price target on the stock. Wedbush also issued estimates for CarMax's FY2027 earnings at $4.72 EPS.

Several other research firms also recently issued reports on KMX. Evercore ISI cut their price objective on CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. StockNews.com lowered shares of CarMax from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Robert W. Baird decreased their price objective on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Cfra Research raised shares of CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Finally, Needham & Company LLC decreased their target price on CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, CarMax has a consensus rating of "Hold" and a consensus price target of $87.73.

CarMax Price Performance

KMX stock traded down $0.64 during trading hours on Monday, hitting $65.04. 2,155,346 shares of the stock traded hands, compared to its average volume of 2,091,434. The stock has a 50-day simple moving average of $74.28 and a 200 day simple moving average of $78.49. The company has a market cap of $9.93 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.67 and a beta of 1.58. CarMax has a one year low of $61.67 and a one year high of $91.25. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

Insiders Place Their Bets

In related news, Director Mitchell D. Steenrod purchased 1,300 shares of the stock in a transaction on Thursday, April 24th. The shares were purchased at an average price of $65.49 per share, with a total value of $85,137.00. Following the transaction, the director now directly owns 33,577 shares of the company's stock, valued at $2,198,957.73. This trade represents a 4.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the sale, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.66% of the company's stock.

Institutional Investors Weigh In On CarMax

Several hedge funds have recently added to or reduced their stakes in KMX. First Hawaiian Bank acquired a new position in shares of CarMax during the 4th quarter worth approximately $273,000. Sequoia Financial Advisors LLC grew its position in CarMax by 10.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock worth $261,000 after buying an additional 307 shares in the last quarter. Jones Financial Companies Lllp increased its stake in CarMax by 36.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company's stock worth $426,000 after acquiring an additional 1,396 shares during the period. World Investment Advisors LLC acquired a new position in CarMax in the 3rd quarter valued at $6,942,000. Finally, HF Advisory Group LLC lifted its position in shares of CarMax by 12.6% during the 4th quarter. HF Advisory Group LLC now owns 28,793 shares of the company's stock valued at $2,354,000 after acquiring an additional 3,222 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.