CarMax (NYSE:KMX) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of CarMax (NYSE:KMX - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. Wedbush currently has a $100.00 target price on the stock.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. Evercore ISI decreased their price objective on CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a report on Tuesday, March 11th. Mizuho upped their target price on CarMax from $72.00 to $80.00 and gave the company a "neutral" rating in a research note on Friday, December 20th. Needham & Company LLC lifted their price target on shares of CarMax from $98.00 to $101.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of CarMax from a "sell" rating to a "hold" rating in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, CarMax currently has an average rating of "Hold" and a consensus price target of $90.64.

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CarMax Stock Performance

Shares of KMX traded down $6.33 during mid-day trading on Tuesday, hitting $76.44. The company's stock had a trading volume of 4,512,165 shares, compared to its average volume of 2,002,654. The stock's 50-day moving average is $80.51 and its two-hundred day moving average is $79.36. The firm has a market capitalization of $11.76 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax has a one year low of $65.83 and a one year high of $91.25.

Insider Transactions at CarMax

In other news, SVP Tyler Tuite sold 4,869 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the sale, the senior vice president now directly owns 227 shares in the company, valued at approximately $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jill A. Livesay sold 13,009 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the transaction, the vice president now owns 9,448 shares in the company, valued at approximately $765,288. This trade represents a 57.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,723 shares of company stock valued at $2,925,218. Corporate insiders own 1.66% of the company's stock.

Hedge Funds Weigh In On CarMax

A number of institutional investors have recently modified their holdings of the stock. Lakewood Asset Management LLC increased its holdings in shares of CarMax by 0.6% in the fourth quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company's stock valued at $1,778,000 after purchasing an additional 135 shares in the last quarter. Arete Wealth Advisors LLC increased its stake in shares of 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 buying an additional 141 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of CarMax by 3.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,682 shares of the company's stock valued at $383,000 after acquiring an additional 141 shares during the period. Timber Creek Capital Management LLC lifted its stake in shares of CarMax by 0.3% during the fourth quarter. Timber Creek Capital Management LLC now owns 57,601 shares of the company's stock valued at $4,709,000 after acquiring an additional 145 shares during the period. Finally, Chemistry Wealth Management LLC boosted its holdings in CarMax by 1.4% in the fourth quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company's stock valued at $999,000 after acquiring an additional 164 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.