Evercore ISI Forecasts Strong Price Appreciation for CarMax (NYSE:KMX) Stock

CarMax (NYSE:KMX) had its price objective raised by equities researchers at Evercore ISI from $38.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price target would suggest a potential downside of 10.72% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Benchmark reaffirmed a “hold” rating on shares of CarMax in a report on Tuesday, December 16th. Barclays raised their target price on CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 21st. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research note on Friday, January 9th. Mizuho decreased their target price on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, December 19th. Finally, William Blair cut shares of CarMax from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CarMax has an average rating of “Reduce” and a consensus target price of $39.93.

CarMax Price Performance

NYSE KMX opened at $44.80 on Tuesday. The stock has a market capitalization of $6.35 billion, a PE ratio of 14.79, a P/E/G ratio of 1.07 and a beta of 1.35. The stock has a 50-day simple moving average of $41.99 and a 200 day simple moving average of $47.59. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99. CarMax has a twelve month low of $30.26 and a twelve month high of $89.47.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.11. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The business had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the company posted $0.81 earnings per share. CarMax’s quarterly revenue was down 6.9% on a year-over-year basis. Research analysts anticipate that CarMax will post 3.23 EPS for the current year.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KMX. CYBER HORNET ETFs LLC acquired a new stake in CarMax during the 2nd quarter worth $28,000. MUFG Securities EMEA plc acquired a new position in CarMax in the 2nd quarter worth $30,000. Center for Financial Planning Inc. bought a new position in shares of CarMax during the third quarter worth about $31,000. Advisory Services Network LLC bought a new position in shares of CarMax during the 3rd quarter worth approximately $32,000. Finally, True Wealth Design LLC grew its position in CarMax by 54.3% in the fourth quarter. True Wealth Design LLC now owns 907 shares of the company’s stock valued at $35,000 after purchasing an additional 319 shares in the last quarter.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.