CarMax (NYSE:KMX) Earns Outperform Rating from Wedbush

CarMax (NYSE:KMX)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They presently have a $90.00 price objective on the stock. Wedbush’s price objective would suggest a potential upside of 34.83% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Robert W. Baird dropped their price objective on CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Needham & Company LLC dropped their price objective on CarMax from $101.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Evercore ISI dropped their price objective on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Royal Bank of Canada reissued an “underperform” rating on shares of CarMax in a report on Monday, April 21st. Finally, Cfra Research raised CarMax to a “strong-buy” rating in a report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $87.73.

CarMax Stock Down 1.8%

Shares of NYSE KMX opened at $66.75 on Monday. The business’s fifty day moving average price is $69.90 and its 200-day moving average price is $77.74. The stock has a market capitalization of $10.19 billion, a PE ratio of 22.63, a P/E/G ratio of 1.67 and a beta of 1.45. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. CarMax has a one year low of $61.67 and a one year high of $91.25.

Insider Buying and Selling

In other CarMax news, Director Mitchell D. Steenrod acquired 1,300 shares of the company’s stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the acquisition, the director now owns 33,577 shares in the company, valued at $2,198,957.73. This represents a 4.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC increased its holdings in shares of CarMax by 61.7% in the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock worth $1,492,000 after purchasing an additional 7,307 shares in the last quarter. Glenview Trust co lifted its position in shares of CarMax by 36.0% in the first quarter. Glenview Trust co now owns 3,876 shares of the company’s stock worth $302,000 after buying an additional 1,026 shares in the last quarter. Woodline Partners LP lifted its position in shares of CarMax by 1,006.4% in the first quarter. Woodline Partners LP now owns 102,944 shares of the company’s stock worth $8,021,000 after buying an additional 93,640 shares in the last quarter. Empowered Funds LLC increased its stake in CarMax by 12.5% during the first quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after acquiring an additional 585 shares during the last quarter. Finally, MBB Public Markets I LLC bought a new stake in CarMax during the first quarter worth approximately $344,000.

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.