CarMax (NYSE:KMX) Price Target Raised to $83.00 at Evercore ISI

CarMax (NYSE:KMX) had its target price boosted by stock analysts at Evercore ISI from $81.00 to $83.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s target price indicates a potential downside of 0.57% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $95.00 price target on shares of CarMax in a report on Wednesday, October 16th. Truist Financial raised their target price on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target on shares of CarMax in a report on Friday, October 4th. BNP Paribas upgraded CarMax to a “strong sell” rating in a research note on Friday, September 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $80.09.

CarMax Stock Performance

NYSE:KMX traded up $0.30 during trading hours on Tuesday, hitting $83.48. 318,724 shares of the company were exchanged, compared to its average volume of 1,892,800. The company’s 50 day moving average price is $75.93 and its 200-day moving average price is $76.21. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 1.71 and a beta of 1.71. CarMax has a 52-week low of $64.72 and a 52-week high of $88.22. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the business earned $0.75 EPS. As a group, research analysts forecast that CarMax will post 2.99 earnings per share for the current year.

Hedge Funds Weigh In On CarMax

A number of institutional investors have recently bought and sold shares of KMX. FMR LLC lifted its stake in CarMax by 2,883.1% during the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after purchasing an additional 1,713,379 shares in the last quarter. Vulcan Value Partners LLC lifted its stake in CarMax by 299.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after acquiring an additional 1,369,986 shares in the last quarter. Holocene Advisors LP boosted its holdings in CarMax by 740.2% during the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock valued at $73,274,000 after acquiring an additional 834,232 shares during the period. Marshall Wace LLP grew its position in CarMax by 87.6% in the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after acquiring an additional 541,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in CarMax by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after purchasing an additional 436,342 shares during the period.

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.