CarMax, Inc (KMX) Receives $83.41 Average Target Price from Analysts
CarMax, Inc (NYSE:KMX) has earned a consensus rating of “Buy” from the twenty-four analysts that are covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $83.25.
Several analysts recently commented on the company. Buckingham Research lowered CarMax from a “buy” rating to a “neutral” rating and raised their target price for the stock from $75.00 to $84.00 in a report on Monday, June 25th. They noted that the move was a valuation call. Guggenheim lowered CarMax from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a report on Monday, June 25th. They noted that the move was a valuation call. ValuEngine raised CarMax from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. Wedbush raised their target price on CarMax from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, June 25th. Finally, Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Tuesday, July 10th.
Shares of KMX stock traded up $0.70 during mid-day trading on Friday, reaching $75.50. The stock had a trading volume of 7,578 shares, compared to its average volume of 1,173,913. The company has a debt-to-equity ratio of 3.80, a quick ratio of 0.54 and a current ratio of 2.30. The firm has a market capitalization of $13.00 billion, a PE ratio of 20.42, a P/E/G ratio of 1.08 and a beta of 1.55. CarMax has a 1-year low of $57.05 and a 1-year high of $81.67.
In other CarMax news, EVP James Lyski sold 3,738 shares of the stock in a transaction that occurred on Tuesday, June 26th. The stock was sold at an average price of $75.43, for a total transaction of $281,957.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas J. Folliard sold 37,500 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $77.37, for a total value of $2,901,375.00. Following the transaction, the director now owns 211,879 shares in the company, valued at approximately $16,393,078.23. The disclosure for this sale can be found here. Insiders have sold 664,985 shares of company stock worth $50,360,398 in the last quarter. 1.97% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Carnegie Capital Asset Management LLC boosted its position in CarMax by 19.5% during the second quarter. Carnegie Capital Asset Management LLC now owns 79,120 shares of the company’s stock worth $5,764,000 after purchasing an additional 12,895 shares in the last quarter. Verition Fund Management LLC purchased a new position in CarMax during the second quarter worth approximately $3,083,000. Argent Trust Co boosted its position in CarMax by 14.6% during the second quarter. Argent Trust Co now owns 5,783 shares of the company’s stock worth $421,000 after purchasing an additional 737 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in CarMax during the second quarter worth approximately $190,000. Finally, Millennium Management LLC boosted its position in CarMax by 4,279.2% during the second quarter. Millennium Management LLC now owns 488,592 shares of the company’s stock worth $35,604,000 after purchasing an additional 477,435 shares in the last quarter.
CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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