Analysts Set CarMax, Inc (NYSE:KMX) PT at $98.03
CarMax, Inc (NYSE:KMX) has been assigned an average recommendation of “Buy” from the sixteen brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $97.75.
A number of brokerages recently commented on KMX. JPMorgan Chase & Co. began coverage on shares of CarMax in a research note on Monday, June 1st. They set an “overweight” rating and a $105.00 price target on the stock. Argus upped their price target on shares of CarMax from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Royal Bank of Canada upped their price target on shares of CarMax from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. ValuEngine upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, TheStreet cut shares of CarMax from a “b-” rating to a “c+” rating in a research note on Friday, March 13th.
KMX traded up $0.57 during midday trading on Tuesday, reaching $89.55. The company had a trading volume of 987,270 shares, compared to its average volume of 1,916,812. The company has a debt-to-equity ratio of 4.15, a quick ratio of 1.20 and a current ratio of 2.85. The stock has a market cap of $14.08 billion, a PE ratio of 23.75, a P/E/G ratio of 2.32 and a beta of 1.71. CarMax has a 12-month low of $37.59 and a 12-month high of $103.18. The business has a 50-day moving average price of $87.44 and a two-hundred day moving average price of $82.96.
In other CarMax news, EVP Eric M. Margolin sold 1,200 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $94.32, for a total value of $113,184.00. Following the sale, the executive vice president now directly owns 25,640 shares in the company, valued at approximately $2,418,364.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shira Goodman purchased 1,550 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was bought at an average cost of $63.91 per share, for a total transaction of $99,060.50. Following the acquisition, the director now directly owns 26,439 shares in the company, valued at $1,689,716.49. The disclosure for this purchase can be found here. Insiders sold a total of 77,785 shares of company stock worth $7,182,608 over the last quarter. Corporate insiders own 1.99% of the company’s stock.
Large investors have recently modified their holdings of the company. EPG Wealth Management LLC increased its holdings in shares of CarMax by 373.8% in the 1st quarter. EPG Wealth Management LLC now owns 507 shares of the company’s stock worth $28,000 after buying an additional 400 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of CarMax by 446.4% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 612 shares of the company’s stock worth $32,000 after buying an additional 500 shares during the last quarter. WASHINGTON TRUST Co bought a new position in shares of CarMax in the 1st quarter worth $34,000. Citizens Financial Group Inc RI increased its holdings in shares of CarMax by 658.3% in the 1st quarter. Citizens Financial Group Inc RI now owns 781 shares of the company’s stock worth $42,000 after buying an additional 678 shares during the last quarter. Finally, Fred Alger Management LLC increased its holdings in shares of CarMax by 145.0% in the 4th quarter. Fred Alger Management LLC now owns 877 shares of the company’s stock worth $77,000 after buying an additional 519 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.
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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