CarMax (NYSE:KMX) Price Target Raised to $70.00

CarMax (NYSE:KMX) had its price target boosted by Robert W. Baird from $64.00 to $70.00 in a research note released on Wednesday, MarketBeat.com reports. Robert W. Baird currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on KMX. Weiss Ratings raised shares of CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Bank of America boosted their price target on CarMax from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Wednesday. Barclays increased their price target on CarMax from $61.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Royal Bank Of Canada raised their price objective on CarMax from $45.00 to $56.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, BNP Paribas Exane reiterated a “strong sell” rating and issued a $48.00 target price (up from $33.00) on shares of CarMax in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, CarMax currently has a consensus rating of “Reduce” and a consensus price target of $56.71.

CarMax Stock Down 1.7%

KMX opened at $54.91 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 2.33 and a debt-to-equity ratio of 2.66. The firm has a market cap of $7.79 billion, a P/E ratio of 26.79, a PEG ratio of 1.68 and a beta of 1.23. CarMax has a 52 week low of $30.26 and a 52 week high of $65.28. The business’s fifty day simple moving average is $59.40 and its 200 day simple moving average is $50.43.

CarMax (NYSE:KMX) last announced its earnings results on Tuesday, September 29th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.43. CarMax had a net margin of 1.06% and a return on equity of 7.76%. The firm had revenue of $7.88 billion during the quarter, compared to the consensus estimate of $7.09 billion. During the same quarter in the previous year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities research analysts anticipate that CarMax will post 2.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Basecamp Wealth Advisors LLC boosted its holdings in CarMax by 105.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 327 shares during the last quarter. Huntington National Bank increased its stake in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of CarMax in the 2nd quarter worth about $29,000. Wellington Grp LLC raised its holdings in shares of CarMax by 6,500.0% in the 1st quarter. Wellington Grp LLC now owns 726 shares of the company’s stock worth $30,000 after purchasing an additional 715 shares during the period. Finally, Commonwealth Retirement Investments LLC acquired a new position in shares of CarMax in the 4th quarter valued at about $33,000.

About CarMax

CarMax, Inc is a retailer of used vehicles operating in the United States. The company sells a broad selection of used cars, trucks and SUVs through its dealership network and online platform, offering customers the ability to research, purchase and arrange delivery for vehicles through an omnichannel shopping experience.

In addition to retail vehicle sales, CarMax provides vehicle financing through CarMax Auto Finance and offers customers access to extended protection products and related services.