Credit Suisse Group Raises CarMax (KMX) Price Target to $84.00

CarMax (NYSE:KMX) had its price objective increased by Credit Suisse Group from $75.00 to $84.00 in a research report report published on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an outperform rating on the stock.

A number of other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of CarMax from a buy rating to a hold rating in a research note on Monday, April 15th. Buckingham Research increased their price objective on shares of CarMax from $76.00 to $81.00 and gave the company a buy rating in a research note on Monday, April 1st. Stephens upgraded shares of CarMax from an equal weight rating to an overweight rating and increased their price objective for the company from $83.00 to $93.00 in a research note on Monday, April 1st. ValuEngine upgraded shares of CarMax from a sell rating to a hold rating in a research note on Monday, February 4th. Finally, Wedbush downgraded shares of CarMax from an outperform rating to a neutral rating and reduced their price objective for the company from $70.00 to $60.00 in a research note on Friday, January 18th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. CarMax currently has an average rating of Buy and a consensus target price of $82.00.

NYSE KMX opened at $77.00 on Wednesday. CarMax has a 12 month low of $55.24 and a 12 month high of $81.67. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.53 and a current ratio of 2.45. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.23 and a beta of 1.28.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Friday, March 29th. The company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.09. CarMax had a net margin of 4.64% and a return on equity of 24.67%. The firm had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the firm posted $0.88 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, research analysts expect that CarMax will post 5.13 EPS for the current fiscal year.

In other CarMax news, SVP Diane L. Cafritz sold 3,484 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $71.04, for a total transaction of $247,503.36. Following the sale, the senior vice president now directly owns 11,331 shares of the company’s stock, valued at $804,954.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 360,006 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $71.18, for a total transaction of $25,625,227.08. Following the sale, the director now directly owns 511,879 shares in the company, valued at $36,435,547.22. The disclosure for this sale can be found here. Insiders have sold 383,655 shares of company stock worth $27,437,638 over the last three months. 1.97% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. First Foundation Advisors acquired a new stake in shares of CarMax during the fourth quarter worth $445,000. Makaira Partners LLC acquired a new stake in shares of CarMax during the fourth quarter worth $46,107,000. Douglass Winthrop Advisors LLC raised its holdings in shares of CarMax by 29.8% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 594,180 shares of the company’s stock worth $37,273,000 after purchasing an additional 136,491 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of CarMax by 1.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 525,609 shares of the company’s stock worth $32,972,000 after purchasing an additional 8,949 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of CarMax by 0.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 103,218 shares of the company’s stock worth $6,475,000 after purchasing an additional 770 shares during the period.

About CarMax

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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