CarMax (KMX) Given a $87.00 Price Target by Wedbush Analysts
CarMax (NYSE:KMX) received a $87.00 price target from investment analysts at Wedbush in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the stock. Wedbush’s price objective suggests a potential upside of 17.44% from the company’s previous close.
A number of other equities analysts also recently issued reports on KMX. TheStreet raised shares of CarMax from a “c+” rating to a “b” rating in a report on Friday, June 1st. Gabelli assumed coverage on CarMax in a research note on Wednesday, June 6th. They set a “buy” rating and a $95.00 target price on the stock. ValuEngine upgraded CarMax from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. Guggenheim cut CarMax from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Monday, June 25th. They noted that the move was a valuation call. Finally, Buckingham Research cut CarMax from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $75.00 to $84.00 in a research note on Monday, June 25th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $84.13.
KMX traded down $0.58 during mid-day trading on Thursday, reaching $74.08. 96,437 shares of the stock were exchanged, compared to its average volume of 1,275,517. The company has a debt-to-equity ratio of 3.80, a current ratio of 2.30 and a quick ratio of 0.54. The company has a market capitalization of $13.40 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.12 and a beta of 1.57. CarMax has a 1 year low of $57.05 and a 1 year high of $81.67.
In related news, Director Thomas J. Folliard sold 37,500 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 211,879 shares in the company, valued at approximately $16,393,078.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Darren C. Newberry sold 1,831 shares of the business’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $73.80, for a total value of $135,127.80. Following the completion of the sale, the senior vice president now owns 2,481 shares in the company, valued at $183,097.80. The disclosure for this sale can be found here. Insiders have sold a total of 288,293 shares of company stock worth $21,903,363 over the last quarter. Company insiders own 1.97% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank raised its stake in CarMax by 28.4% in the 2nd quarter. Toronto Dominion Bank now owns 130,342 shares of the company’s stock valued at $9,496,000 after acquiring an additional 28,824 shares during the period. Point72 Hong Kong Ltd purchased a new position in CarMax during the 2nd quarter valued at about $635,000. Parkwood LLC purchased a new position in CarMax during the 2nd quarter valued at about $5,805,000. Epoch Investment Partners Inc. grew its holdings in CarMax by 18.9% during the 2nd quarter. Epoch Investment Partners Inc. now owns 709,162 shares of the company’s stock valued at $51,677,000 after buying an additional 112,547 shares in the last quarter. Finally, Redmond Asset Management LLC grew its holdings in CarMax by 5.4% during the 2nd quarter. Redmond Asset Management LLC now owns 96,055 shares of the company’s stock valued at $7,000,000 after buying an additional 4,923 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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