Wedbush Reaffirms Outperform Rating for CarMax (NYSE:KMX)

Wedbush restated their outperform rating on shares of CarMax (NYSE:KMX) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $90.00 price target on the stock.

Several other equities research analysts also recently issued reports on the stock. Needham & Company LLC decreased their price objective on shares of CarMax from $99.00 to $91.00 and set a buy rating for the company in a research note on Friday, April 12th. Evercore ISI cut their price target on shares of CarMax from $85.00 to $74.00 and set an in-line rating on the stock in a report on Friday, April 12th. Mizuho cut their price target on shares of CarMax from $80.00 to $75.00 and set a neutral rating on the stock in a report on Friday, April 12th. Robert W. Baird cut their price target on shares of CarMax from $88.00 to $84.00 and set an outperform rating on the stock in a report on Friday, April 12th. Finally, Oppenheimer reiterated an outperform rating and set a $105.00 target price on shares of CarMax in a research note on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, CarMax currently has a consensus rating of Hold and an average price target of $77.42.

CarMax Stock Performance

Shares of KMX opened at $69.81 on Tuesday. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96. The stock has a market cap of $11.02 billion, a P/E ratio of 23.04, a PEG ratio of 1.09 and a beta of 1.61. The company has a 50-day moving average of $78.73 and a two-hundred day moving average of $72.10. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. As a group, research analysts predict that CarMax will post 3.58 EPS for the current fiscal year.

Insider Transactions at CarMax

In other news, VP Jill A. Livesay sold 14,199 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the completion of the transaction, the vice president now owns 9,068 shares in the company, valued at $642,830.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Diane L. Cafritz sold 2,730 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 5,073 shares in the company, valued at $357,849.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jill A. Livesay sold 14,199 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the transaction, the vice president now owns 9,068 shares of the company’s stock, valued at approximately $642,830.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,929 shares of company stock worth $2,740,901. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP grew its position in CarMax by 153.3% in the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after buying an additional 207 shares in the last quarter. CENTRAL TRUST Co grew its position in CarMax by 100.0% in the 3rd quarter. CENTRAL TRUST Co now owns 400 shares of the company’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Ronald Blue Trust Inc. grew its position in CarMax by 194.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 438 shares of the company’s stock valued at $31,000 after buying an additional 289 shares in the last quarter. VitalStone Financial LLC bought a new position in CarMax in the 1st quarter valued at about $33,000. Finally, Creative Financial Designs Inc. ADV grew its position in 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 buying an additional 400 shares in the last quarter.

CarMax Company Profile

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.