CarMax (NYSE:KMX) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of CarMax (NYSE:KMX) in a report published on Wednesday morning, Benzinga reports. They currently have a $90.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada increased their price objective on CarMax from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Argus raised shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a report on Friday, September 27th. Mizuho decreased their target price on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Finally, Truist Financial lifted their price objective on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, CarMax presently has a consensus rating of “Hold” and a consensus price target of $79.45.

CarMax Stock Performance

NYSE:KMX opened at $74.81 on Wednesday. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The business has a 50 day moving average price of $78.05 and a 200-day moving average price of $75.39. The firm has a market cap of $11.68 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. Equities research analysts predict that CarMax will post 2.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $965,567.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $965,567.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Charles Joseph Wilson sold 10,021 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the transaction, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. This represents a 0.00 % decrease in their position. 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

A number of large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its stake in shares of CarMax by 9.3% in the 3rd quarter. Global Retirement Partners LLC now owns 15,287 shares of the company’s stock worth $1,183,000 after buying an additional 1,307 shares during the last quarter. Good Life Advisors LLC purchased a new stake in CarMax during the third quarter valued at $416,000. Mezzasalma Advisors LLC lifted its holdings in CarMax by 6.4% in the third quarter. Mezzasalma Advisors LLC now owns 3,475 shares of the company’s stock valued at $269,000 after acquiring an additional 208 shares during the period. Nexus Investment Management ULC boosted its position in CarMax by 1.0% in the third quarter. Nexus Investment Management ULC now owns 377,705 shares of the company’s stock worth $29,227,000 after purchasing an additional 3,580 shares during the last quarter. Finally, Creative Planning boosted its position in CarMax by 5.9% in the third quarter. Creative Planning now owns 13,833 shares of the company’s stock worth $1,070,000 after purchasing an additional 766 shares during 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.