Needham & Company LLC Forecasts Strong Price Appreciation for CarMax (NYSE:KMX) Stock

CarMax (NYSE:KMX - Free Report) had its target price increased by Needham & Company LLC from $90.00 to $98.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also issued reports on the company. Royal Bank of Canada increased their price target on CarMax from $92.00 to $99.00 and gave the stock an "overweight" rating in a report on Thursday. Mizuho lifted their price target on shares of CarMax from $72.00 to $80.00 and gave the company a "neutral" rating in a research report on Friday. Wedbush restated an "outperform" rating and set a $95.00 price objective on shares of CarMax in a report on Wednesday, October 16th. BNP Paribas upgraded shares of CarMax to a "strong sell" rating in a report on Friday, September 27th. Finally, Oppenheimer reissued an "outperform" rating and set a $105.00 target price on shares of CarMax in a research report on Friday, October 4th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $85.17.

CarMax Trading Up 0.0 %

Shares of NYSE:KMX traded up $0.04 during mid-day trading on Friday, hitting $84.27. The company had a trading volume of 4,188,560 shares, compared to its average volume of 1,945,593. The company has a market capitalization of $13.06 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 1.76 and a beta of 1.71. CarMax has a one year low of $65.83 and a one year high of $91.25. The firm 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 current ratio of 2.25 and a quick ratio of 0.68.

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

Institutional Trading of CarMax

A number of hedge funds have recently bought and sold shares of the business. Arete Wealth Advisors LLC grew its stake in CarMax by 4.3% in the 3rd quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company's stock valued at $266,000 after purchasing an additional 141 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in CarMax by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company's stock worth $456,000 after buying an additional 142 shares during the last quarter. Allegheny Financial Group LTD raised its position in CarMax by 4.1% in the second quarter. Allegheny Financial Group LTD now owns 3,597 shares of the company's stock worth $264,000 after acquiring an additional 143 shares during the period. Sompo Asset Management Co. Ltd. raised its position in CarMax by 1.6% in the third quarter. Sompo Asset Management Co. Ltd. now owns 10,602 shares of the company's stock worth $820,000 after acquiring an additional 170 shares during the period. Finally, Signaturefd LLC increased its stake in shares of CarMax by 12.5% during the 3rd quarter. Signaturefd LLC now owns 1,545 shares of the company's stock worth $120,000 after purchasing an additional 172 shares during 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.