CarMax (NYSE:KMX) Price Target Raised to $85.00

CarMax (NYSE:KMX) had its target price increased by Evercore ISI from $83.00 to $85.00 in a research note released on Thursday. They currently have a market perform rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research report on Friday, October 4th. Stephens began coverage on CarMax in a research report on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CarMax from $65.00 to $70.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, CarMax presently has an average rating of “Hold” and an average price target of $85.17.

CarMax Stock Up 0.0 %

NYSE KMX opened at $84.27 on Thursday. The company has a market cap of $13.06 billion, a P/E ratio of 31.68, a P/E/G ratio of 1.76 and a beta of 1.71. CarMax has a one year low of $65.83 and a one year high of $91.25. The business has a fifty day moving average price of $79.01 and a 200 day moving average price of $77.64. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same period in the prior year, the business posted $0.52 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. Research analysts anticipate that CarMax will post 3.01 EPS for the current fiscal year.

Hedge Funds Weigh In On CarMax

Several institutional investors and hedge funds have recently bought and sold shares of KMX. Quarry LP increased its holdings in shares of CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after buying an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of CarMax during the 3rd quarter worth about $32,000. True Wealth Design LLC raised its holdings in CarMax by 4,844.4% in the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after buying an additional 436 shares during the period. Blue Trust Inc. lifted its position in CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after buying an additional 287 shares in the last quarter. Finally, Studio Investment Management LLC increased its position in shares of CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after acquiring an additional 334 shares in the last quarter.

About CarMax

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.