CarMax (NYSE:KMX) Price Target Raised to $101.00 at Needham & Company LLC

CarMax (NYSE:KMX - Get Free Report) had its target price hoisted by equities researchers at Needham & Company LLC from $98.00 to $101.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target indicates a potential upside of 20.39% from the stock's current price.

A number of other research analysts have also recently weighed in on the company. StockNews.com upgraded CarMax from a "sell" rating to a "hold" rating in a research report on Friday, December 20th. Mizuho raised their target price on shares of CarMax from $72.00 to $80.00 and gave the company a "neutral" rating in a report on Friday, December 20th. Evercore ISI upped their price target on shares of CarMax from $83.00 to $85.00 and gave the company a "market perform" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on shares of CarMax from $70.00 to $72.00 and gave the stock an "underweight" rating in a research note on Friday, December 20th. Finally, Truist Financial lifted their price objective on CarMax from $72.00 to $88.00 and gave the stock a "hold" rating in a research report on Friday, December 20th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, CarMax presently has an average rating of "Hold" and an average price target of $85.42.

CarMax Stock Performance

Shares of NYSE:KMX traded down $0.25 on Monday, reaching $83.90. The company's stock had a trading volume of 1,405,827 shares, compared to its average volume of 1,629,819. 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 52-week low of $65.83 and a 52-week high of $91.25. The stock's 50-day moving average is $83.06 and its two-hundred day moving average is $79.57. The stock has a market capitalization of $12.90 billion, a P/E ratio of 28.44, a PEG ratio of 1.66 and a beta of 1.72.

CarMax (NYSE:KMX - Get Free Report) last released its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.19. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that CarMax will post 3.25 EPS for the current year.

Insider Buying and Selling

In related news, CEO William D. Nash sold 120,513 shares of CarMax stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $15,123,292.92. The trade was a 39.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jon G. Daniels sold 10,000 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $85.30, for a total value of $853,000.00. Following the completion of the sale, the senior vice president now owns 995 shares of the company's stock, valued at approximately $84,873.50. This represents a 90.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 264,467 shares of company stock worth $21,915,445. 1.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

Several institutional investors and hedge funds have recently modified their holdings of KMX. Northwestern Mutual Wealth Management Co. lifted its holdings in CarMax by 2.3% in the 2nd 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 in the last quarter. Quarry LP increased its position in shares of CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company's stock worth $31,000 after acquiring an additional 184 shares during the last quarter. Truist Financial Corp raised its position in shares of CarMax by 1.3% in the 2nd quarter. Truist Financial Corp now owns 74,647 shares of the company's stock valued at $5,475,000 after purchasing an additional 951 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of CarMax during the 2nd quarter valued at approximately $814,000. Finally, Czech National Bank increased its stake in shares of CarMax by 6.0% in the third quarter. Czech National Bank now owns 31,794 shares of the company's stock worth $2,460,000 after buying an additional 1,802 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.