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

CarMax (NYSE:KMX) had its price objective hoisted by Evercore ISI from $78.00 to $85.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the stock.

A number of other equities analysts have also commented on the stock. Wedbush reissued an outperform rating and issued a $90.00 price target on shares of CarMax in a report on Friday, February 16th. Royal Bank of Canada raised their target price 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. Mizuho initiated coverage on shares of CarMax in a research note on Tuesday, March 19th. They issued a neutral rating and a $80.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of CarMax from $70.00 to $60.00 and set an underweight rating for the company in a research note on Wednesday, November 29th. Finally, Truist Financial raised their price target on shares of CarMax from $72.00 to $75.00 and gave the company a hold rating in a report on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, CarMax presently has an average rating of Hold and an average price target of $80.42.

CarMax Stock Performance

CarMax stock opened at $87.11 on Tuesday. The firm’s 50 day simple moving average is $76.53 and its 200 day simple moving average is $72.18. The company has a current ratio of 2.45, a quick ratio of 0.71 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $13.75 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61. CarMax has a 1-year low of $58.22 and a 1-year high of $88.22.

Insider Activity

In other CarMax news, EVP Diane L. Cafritz sold 2,730 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $70.54, for a total transaction of $192,574.20. Following the transaction, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $357,849.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CarMax news, EVP Diane L. Cafritz sold 2,730 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $70.54, for a total transaction of $192,574.20. Following the completion of the sale, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at $357,849.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,929 shares of company stock valued at $2,740,901. 1.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CarMax

Several hedge funds and other institutional investors have recently modified their holdings of KMX. Norges Bank purchased a new position in shares of CarMax in the 4th quarter valued at approximately $288,278,000. Morningstar Investment Services LLC raised its position in shares of CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after purchasing an additional 1,326,840 shares during the last quarter. Wellington Management Group LLP raised its position in CarMax by 29.4% during the 1st quarter. Wellington Management Group LLP now owns 3,548,930 shares of the company’s stock worth $342,400,000 after buying an additional 805,438 shares during the last quarter. American Century Companies Inc. raised its position in CarMax by 674.3% during the 3rd quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock worth $57,059,000 after buying an additional 702,526 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in CarMax by 2,311.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 603,659 shares of the company’s stock worth $42,697,000 after buying an additional 578,622 shares during 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.