Wedbush Reiterates Outperform Rating for CarMax (NYSE:KMX)

CarMax (NYSE:KMX)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research report issued on Tuesday,Benzinga reports. They presently have a $100.00 target price on the stock. Wedbush’s price objective points to a potential upside of 20.90% from the company’s current price.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a report on Thursday, March 27th. Truist Financial boosted their price target on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. StockNews.com raised CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Royal Bank of Canada boosted their target price on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC raised their price target on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.64.

CarMax Price Performance

Shares of CarMax stock opened at $82.71 on Tuesday. The business’s 50-day moving average price is $80.51 and its 200-day moving average price is $79.36. The firm has a market capitalization of $12.72 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. CarMax has a 12 month low of $65.83 and a 12 month high of $91.25. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

Insider Activity at CarMax

In other news, SVP Tyler Tuite sold 4,869 shares of CarMax stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the sale, the senior vice president now owns 227 shares of the company’s stock, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total transaction of $407,150.00. Following the completion of the transaction, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at approximately $1,649,771.80. The trade was a 19.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,723 shares of company stock worth $2,925,218 over the last quarter. Corporate insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cromwell Holdings LLC lifted its position in CarMax by 104.8% during the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after buying an additional 217 shares during the period. Allworth Financial LP boosted its stake in CarMax by 62.7% during the fourth quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after acquiring an additional 249 shares in the last quarter. Ameriflex Group Inc. bought a new stake in CarMax during the fourth quarter worth about $53,000. ST Germain D J Co. Inc. bought a new stake in CarMax during the fourth quarter worth about $58,000. Finally, Colonial Trust Co SC increased its stake in shares of CarMax by 2,310.0% during the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company’s stock valued at $59,000 after purchasing an additional 693 shares in the last quarter.

CarMax Company Profile

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.