Evercore ISI Increases CarMax (NYSE:KMX) Price Target to $85.00

CarMax (NYSE:KMX) had its price objective hoisted by stock analysts at Evercore ISI from $78.00 to $85.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price objective would indicate a potential downside of 2.28% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of CarMax from $80.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Truist Financial raised their price objective on CarMax from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, December 22nd. Mizuho initiated coverage on CarMax in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 target price for the company. JPMorgan Chase & Co. decreased their target price on CarMax from $70.00 to $60.00 and set an “underweight” rating for the company in a research report on Wednesday, November 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of CarMax in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $80.42.

CarMax Price Performance

Shares of NYSE KMX opened at $86.98 on Tuesday. The stock’s 50-day simple moving average is $76.16 and its 200-day simple moving average is $72.08. The firm has a market capitalization of $13.73 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61. CarMax has a fifty-two week low of $57.90 and a fifty-two week high of $87.50. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.71 and a current ratio of 2.45.

Insider Activity

In related news, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the completion of the sale, the vice president now directly owns 9,068 shares of the company’s stock, valued at $642,830.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the completion of the transaction, the vice president now directly owns 9,068 shares of the company’s stock, valued at $642,830.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Diane L. Cafritz sold 22,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the completion of the sale, the executive vice president now owns 5,073 shares of the company’s stock, valued at approximately $355,515.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,929 shares of company stock valued at $2,740,901. Company insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new position in shares of CarMax during the 4th quarter worth $5,637,000. Vanguard Group Inc. grew its position in CarMax by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after buying an additional 222,132 shares during the period. Royal London Asset Management Ltd. increased its holdings in CarMax by 5.2% in the fourth quarter. Royal London Asset Management Ltd. now owns 61,781 shares of the company’s stock valued at $4,741,000 after buying an additional 3,054 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of CarMax by 3.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 6,010 shares of the company’s stock valued at $461,000 after acquiring an additional 174 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in shares of CarMax by 18.9% during the 4th quarter. V Square Quantitative Management LLC now owns 4,104 shares of the company’s stock valued at $315,000 after acquiring an additional 651 shares during the period.

CarMax Company Profile

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.