Truist Financial Raises CarMax (NYSE:KMX) Price Target to $75.00

by · The Markets Daily

CarMax (NYSE:KMX – Free Report) had its price objective increased by Truist Financial from $70.00 to $75.00 in a research report sent to investors on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other equities research analysts also recently commented on the company. Wedbush reiterated an outperform rating and set a $95.00 target price on shares of CarMax in a report on Tuesday, September 17th. Morgan Stanley reissued an overweight rating and set a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Mizuho lowered their price target on shares of CarMax from $75.00 to $72.00 and set a neutral rating for the company in a report on Tuesday, June 18th. StockNews.com upgraded shares of CarMax to a sell rating in a report on Friday, July 26th. Finally, Argus upgraded CarMax to a hold rating in a research note on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $77.50.

Get Our Latest Stock Analysis on KMX

CarMax Stock Down 2.6 %

Shares of NYSE KMX opened at $74.50 on Monday. The stock has a fifty day moving average price of $79.84 and a 200 day moving average price of $76.38. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a market cap of $11.63 billion, a P/E ratio of 29.10, a P/E/G ratio of 1.56 and a beta of 1.69.

Insider Activity

In related news, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total transaction of $801,880.42. Following the transaction, the chief operating officer now directly owns 15,609 shares in the company, valued at $1,249,032.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Charles Joseph Wilson sold 10,021 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total transaction of $801,880.42. Following the sale, the chief operating officer now owns 15,609 shares in the company, valued at $1,249,032.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the completion of the transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CarMax

Hedge funds have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. increased its holdings in shares of CarMax by 49.9% in the 2nd quarter. Centaurus Financial Inc. now owns 6,861 shares of the company’s stock worth $503,000 after acquiring an additional 2,284 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of CarMax in the second quarter valued at approximately $814,000. Cetera Investment Advisers raised its holdings in shares of CarMax by 12.3% during the second quarter. Cetera Investment Advisers now owns 141,266 shares of the company’s stock valued at $10,360,000 after buying an additional 15,476 shares during the last quarter. Truist Financial Corp boosted its position in shares of CarMax by 1.3% during the second quarter. Truist Financial Corp now owns 74,647 shares of the company’s stock worth $5,475,000 after buying an additional 951 shares during the period. Finally, Quarry LP grew its holdings in CarMax by 78.6% in the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after buying an additional 184 shares in the last quarter.

CarMax Company Profile

(Get Free Report)

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.

Read More