CarMax (NYSE:KMX) Price Target Raised to $40.00 at Evercore ISI

CarMax (NYSE:KMX) had its price objective lifted by Evercore ISI from $38.00 to $40.00 in a research report sent to investors on Tuesday, Marketbeat Ratings reports. They currently have an in-line rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of CarMax from $34.00 to $37.00 and gave the company a “sector perform” rating in a research note on Friday, December 19th. Morgan Stanley set a $35.00 target price on CarMax in a research report on Monday, December 8th. Barclays boosted their price target on CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 21st. Wall Street Zen raised CarMax from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, CarMax has a consensus rating of “Reduce” and a consensus target price of $39.93.

CarMax Stock Performance

Shares of CarMax stock opened at $45.12 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. The stock’s fifty day moving average price is $42.14 and its 200-day moving average price is $47.47. The firm has a market cap of $6.40 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.07 and a beta of 1.35. CarMax has a 12 month low of $30.26 and a 12 month high of $89.47.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.66 billion. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. On average, equities research analysts expect that CarMax will post 3.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CarMax

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in CarMax during the 2nd quarter valued at approximately $208,144,000. AQR Capital Management LLC grew its holdings in shares of CarMax by 195.3% during the second quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock valued at $298,107,000 after buying an additional 2,947,996 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of CarMax by 1,410.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,028,718 shares of the company’s stock valued at $136,350,000 after acquiring an additional 1,894,408 shares during the period. The Manufacturers Life Insurance Company raised its stake in CarMax by 795.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,846,406 shares of the company’s stock worth $124,097,000 after acquiring an additional 1,640,219 shares during the last quarter. Finally, Vulcan Value Partners LLC lifted its position in CarMax by 135.2% during the 3rd quarter. Vulcan Value Partners LLC now owns 2,328,120 shares of the company’s stock worth $104,569,000 after acquiring an additional 1,338,134 shares during the period.

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.