Wedbush Raises CarMax (NYSE:KMX) Price Target to $100.00

CarMax (NYSE:KMX) had its target price raised by Wedbush from $90.00 to $100.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for CarMax’s Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $2.82 EPS, Q1 2025 earnings at $1.21 EPS, Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $0.72 EPS, Q4 2025 earnings at $0.67 EPS, FY2025 earnings at $3.65 EPS, FY2026 earnings at $4.31 EPS and FY2027 earnings at $5.38 EPS.

Other equities analysts have also recently issued research reports about the company. Evercore ISI boosted their price objective on CarMax from $78.00 to $85.00 and gave the company an in-line rating in a report on Tuesday, March 26th. Mizuho assumed coverage on CarMax in a report on Tuesday, March 19th. They set a neutral rating and a $80.00 price objective for the company. Needham & Company LLC upgraded CarMax from a hold rating to a buy rating and set a $99.00 price objective for the company in a report on Wednesday, March 20th. Truist Financial boosted their price objective on CarMax from $72.00 to $75.00 and gave the company a hold rating in a report on Friday, December 22nd. Finally, Bank of America lifted their target price on CarMax from $44.00 to $50.00 and gave the company an underperform rating in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $81.25.

CarMax Price Performance

KMX opened at $80.66 on Tuesday. The business has a fifty day moving average of $78.05 and a 200 day moving average of $72.26. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22. The company has a quick ratio of 0.71, a current ratio of 2.45 and a debt-to-equity ratio of 3.01. The stock has a market cap of $12.74 billion, a P/E ratio of 25.61, a PEG ratio of 1.28 and a beta of 1.61.

Insider Transactions at CarMax

In other news, VP Jill A. Livesay sold 14,199 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $70.89, for a total value 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 approximately $642,830.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Jill A. Livesay sold 14,199 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $70.89, for a total value 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 approximately $642,830.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Diane L. Cafritz sold 2,730 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total value of $192,574.20. Following the completion of the transaction, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at $357,849.42. The disclosure for this sale can be found here. In the last three months, insiders sold 38,929 shares of company stock valued at $2,740,901. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Timber Creek Capital Management LLC increased its position in CarMax by 3.4% during the 1st quarter. Timber Creek Capital Management LLC now owns 55,702 shares of the company’s stock valued at $4,852,000 after buying an additional 1,841 shares in the last quarter. Confluence Investment Management LLC acquired a new position in CarMax during the 1st quarter valued at about $12,746,000. Quadrature Capital Ltd acquired a new position in CarMax during the 4th quarter valued at about $5,637,000. Vanguard Group Inc. increased its position in CarMax by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after buying an additional 222,132 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its position in CarMax by 5.2% during the 4th 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.

About CarMax

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.