CarMax (NYSE:KMX) Earns “Outperform” Rating from Wedbush

CarMax (NYSE:KMX)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research report issued on Tuesday, Benzinga reports. They presently have a $90.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 29.89% from the stock’s current price.

Other analysts have also issued research reports about the company. Bank of America boosted their target price on CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Evercore ISI cut their price objective on CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $83.00 target price on shares of CarMax in a report on Monday, April 8th. Mizuho dropped their target price on CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Robert W. Baird decreased their price objective on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.42.

CarMax Price Performance

Shares of CarMax stock traded down $0.17 on Tuesday, hitting $69.29. 818,285 shares of the company were exchanged, compared to its average volume of 1,975,363. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. The company has a 50-day moving average price of $78.77 and a 200 day moving average price of $72.10. CarMax has a 1-year low of $59.66 and a 1-year 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.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts predict that CarMax will post 3.58 earnings per share for the current fiscal year.

Insider Activity at CarMax

In other news, EVP Diane L. Cafritz sold 2,730 shares of CarMax stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $70.54, for a total transaction of $192,574.20. Following the completion of the sale, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $357,849.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Diane L. Cafritz sold 2,730 shares of CarMax stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total transaction of $192,574.20. Following the completion of the transaction, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $357,849.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jill A. Livesay sold 14,199 shares of CarMax stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $70.89, for a total value of $1,006,567.11. Following the transaction, the vice president now owns 9,068 shares of the company’s stock, valued at $642,830.52. The disclosure for this sale can be found here. Insiders sold a total of 38,929 shares of company stock worth $2,740,901 over the last 90 days. Company insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

A number of institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in CarMax by 153.3% in the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after buying an additional 207 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in CarMax by 100.0% in the 3rd quarter. CENTRAL TRUST Co now owns 400 shares of the company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Ronald Blue Trust Inc. lifted its holdings in CarMax by 194.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 438 shares of the company’s stock worth $31,000 after buying an additional 289 shares in the last quarter. VitalStone Financial LLC acquired a new stake in shares of CarMax in the 1st quarter valued at about $33,000. Finally, Creative Financial Designs Inc. ADV raised its stake in shares of CarMax by 1,081.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after purchasing an additional 400 shares in the last quarter.

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.