Susquehanna Bancshares Inc Analysts Give CarMax, Inc (KMX) a $70.00 Price Target
CarMax, Inc (NYSE:KMX) has been assigned a $70.00 price objective by stock analysts at Susquehanna Bancshares Inc in a research report issued on Friday. The firm presently has a “buy” rating on the stock. Susquehanna Bancshares Inc’s price target suggests a potential upside of 19.05% from the company’s previous close.
KMX has been the topic of several other reports. Morgan Stanley downgraded shares of CarMax from an “equal weight” rating to an “underweight” rating and set a $48.00 price objective on the stock. in a research report on Wednesday, February 1st. Zacks Investment Research downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research report on Thursday, March 9th. Wedbush reiterated a “neutral” rating and issued a $55.00 price objective on shares of CarMax in a research report on Monday, December 19th. Vetr upgraded shares of CarMax from a “buy” rating to a “strong-buy” rating and set a $69.00 price objective on the stock in a research report on Wednesday, December 14th. Finally, CIBC reiterated a “buy” rating on shares of CarMax in a research report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. CarMax currently has a consensus rating of “Buy” and a consensus price target of $66.17.
CarMax (NYSE:KMX) traded down 0.672% during mid-day trading on Friday, reaching $58.405. The company’s stock had a trading volume of 2,405,256 shares. CarMax has a 52 week low of $45.06 and a 52 week high of $69.11. The company’s 50-day moving average price is $60.03 and its 200 day moving average price is $60.15. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 17.916 and a beta of 1.34.
CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, April 6th. The company reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.94 billion. CarMax had a net margin of 3.96% and a return on equity of 21.02%. CarMax’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $0.74 EPS. On average, equities analysts forecast that CarMax will post $3.51 earnings per share for the current fiscal year.
In other news, SVP Jon G. Daniels sold 20,000 shares of CarMax stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $68.72, for a total value of $1,374,400.00. Following the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at $2,184,402.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO William C. Jr. Wood sold 6,203 shares of CarMax stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $66.24, for a total transaction of $410,886.72. Following the completion of the transaction, the chief operating officer now directly owns 55,096 shares in the company, valued at $3,649,559.04. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KMX. The Manufacturers Life Insurance Company purchased a new position in CarMax during the third quarter valued at $223,614,000. Ruane Cunniff & Goldfarb Inc. increased its position in shares of CarMax by 66.6% in the fourth quarter. Ruane Cunniff & Goldfarb Inc. now owns 10,052,354 shares of the company’s stock worth $647,271,000 after buying an additional 4,019,237 shares during the last quarter. Norges Bank bought a new position in shares of CarMax during the fourth quarter worth approximately $82,869,000. Mik Capital LLC bought a new position in shares of CarMax during the third quarter worth approximately $42,777,000. Finally, Immersion Capital LLP bought a new position in shares of CarMax during the fourth quarter worth approximately $48,375,000.
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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