CarMax’s (KMX) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of CarMax (NYSE:KMX) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a $90.00 target price on the stock.

A number of other brokerages have also commented on KMX. Needham & Company LLC dropped their target price on CarMax from $101.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Cfra Research upgraded CarMax to a “strong-buy” rating in a research report on Thursday, April 10th. Royal Bank Of Canada restated an “underperform” rating on shares of CarMax in a research report on Monday, April 21st. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Wednesday, May 7th. Finally, Robert W. Baird lowered their price objective on CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $85.82.

CarMax Price Performance

Shares of NYSE KMX opened at $64.25 on Wednesday. The business’s 50 day moving average price is $65.65 and its 200 day moving average price is $75.71. The firm has a market cap of $9.81 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.07 and a beta of 1.38. CarMax has a 52 week low of $61.34 and a 52 week high of $91.25. The company has a quick ratio of 0.52, a current ratio of 2.31 and a debt-to-equity ratio of 2.91.

Insider Activity at CarMax

In related news, Director Mitchell D. Steenrod bought 1,300 shares of the business’s stock in a transaction on Thursday, April 24th. The stock was acquired at an average cost of $65.49 per share, with a total value of $85,137.00. Following the purchase, the director now directly owns 33,577 shares of the company’s stock, valued at $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently modified their holdings of KMX. Zions Bancorporation National Association UT acquired a new stake in shares of CarMax in the 1st quarter worth $27,000. Accent Capital Management LLC acquired a new stake in shares of CarMax in the 1st quarter worth $34,000. Cromwell Holdings LLC increased its stake in shares of CarMax by 104.8% in the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after acquiring an additional 217 shares during the last quarter. Strengthening Families & Communities LLC increased its stake in shares of CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock worth $39,000 after acquiring an additional 256 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after acquiring an additional 249 shares during 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.