Wedbush Reaffirms Outperform Rating for CarMax (NYSE:KMX)

CarMax (NYSE:KMX)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $90.00 price objective on the stock. Wedbush’s price target would indicate a potential upside of 40.09% from the stock’s current price.

KMX has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Robert W. Baird dropped their price objective on shares of CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of CarMax in a research report on Monday, April 21st. Finally, Cfra Research upgraded shares of CarMax to a “strong-buy” rating in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CarMax presently has an average rating of “Hold” and a consensus price target of $85.82.

CarMax Price Performance

Shares of KMX stock opened at $64.25 on Wednesday. The company has a debt-to-equity ratio of 2.91, a current ratio of 2.31 and a quick ratio of 0.52. The firm’s 50-day moving average is $65.60 and its two-hundred day moving average is $75.58. CarMax has a 12 month low of $61.34 and a 12 month high of $91.25. The company has a market capitalization of $9.81 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.07 and a beta of 1.38.

Insider Transactions at CarMax

In related news, Director Mitchell D. Steenrod acquired 1,300 shares of CarMax stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the purchase, the director now directly owns 33,577 shares of the company’s stock, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Trading of CarMax

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Zions Bancorporation National Association UT purchased a new position in CarMax during the 1st quarter valued at about $27,000. Accent Capital Management LLC purchased a new stake in CarMax during the first quarter worth approximately $34,000. Cromwell Holdings LLC grew its stake in CarMax by 104.8% during the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after buying an additional 217 shares during the period. Strengthening Families & Communities LLC grew its stake in CarMax by 93.1% during the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock worth $39,000 after buying an additional 256 shares during the period. Finally, Allworth Financial LP grew its stake in CarMax by 62.7% during the fourth quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after buying an additional 249 shares during the period.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.