CarMax (NYSE:KMX) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

CarMax (NYSE:KMX) had its price target increased by equities research analysts at Needham & Company LLC from $90.00 to $98.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 16.35% from the company’s current price.

Several other analysts also recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Evercore ISI raised their price target on CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a research report on Thursday. Stephens assumed coverage on CarMax in a report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $83.92.

CarMax Stock Performance

Shares of KMX stock opened at $84.23 on Friday. The stock has a fifty day moving average price of $78.77 and a 200 day moving average price of $77.55. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The stock has a market cap of $13.05 billion, a PE ratio of 31.67, a P/E/G ratio of 1.76 and a beta of 1.71. CarMax has a 1 year low of $65.83 and a 1 year high of $91.25.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.19. The business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. Sell-side analysts forecast that CarMax will post 3.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP grew its holdings in CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after purchasing an additional 184 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of CarMax in the 3rd quarter valued at $32,000. True Wealth Design LLC grew its stake in shares of CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after buying an additional 436 shares during the period. Blue Trust Inc. increased its holdings in shares of CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after buying an additional 287 shares during the last quarter. Finally, Studio Investment Management LLC raised its position in shares of CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after buying an additional 334 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.