Truist Financial Forecasts Strong Price Appreciation for CarMax (NYSE:KMX) Stock

CarMax (NYSE:KMX - Get Free Report) had its price target lifted by equities research analysts at Truist Financial from $72.00 to $88.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's price objective would indicate a potential upside of 4.43% from the stock's current price.

Several other equities research analysts have also recently weighed in on KMX. Wedbush reaffirmed an "outperform" rating and issued a $95.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Needham & Company LLC upped their target price on shares of CarMax from $90.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday. Royal Bank of Canada lifted their price target on shares of CarMax from $92.00 to $99.00 and gave the company an "overweight" rating in a research report on Thursday. Mizuho upped their price objective on shares of CarMax from $72.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $105.00 target price 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 assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, CarMax presently has an average rating of "Hold" and a consensus target price of $85.17.

CarMax Trading Up 0.0 %

Shares of KMX traded up $0.04 during trading hours on Friday, reaching $84.27. 4,188,560 shares of the company traded hands, compared to its average volume of 1,945,593. CarMax has a 12 month low of $65.83 and a 12 month high of $91.25. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The company's fifty day moving average price is $78.77 and its two-hundred day moving average price is $77.55. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 1.76 and a beta of 1.71.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KMX. Quarry LP raised its holdings in shares of CarMax by 78.6% during 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 last quarter. Catalyst Capital Advisors LLC purchased a new stake in CarMax during the 3rd quarter valued at $32,000. True Wealth Design LLC lifted its holdings 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. boosted its stake in shares of CarMax by 134.1% in 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 boosted its stake 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 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.