In a report released today, Brian Nagel from Oppenheimer assigned a Buy rating to CarMax (KMX), with a price target of $130.00. The company’s shares closed last Friday at $94.03.
According to TipRanks.com, Nagel is a top 25 analyst with an average return of 24.4% and a 74.0% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Lululemon Athletica, and The Lovesac Company.
Currently, the analyst consensus on CarMax is a Strong Buy with an average price target of $121.29, a 27.3% upside from current levels. In a report issued on September 18, William Blair also reiterated a Buy rating on the stock.
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Based on CarMax’s latest earnings release for the quarter ending August 31, the company reported a quarterly revenue of $5.37 billion and net profit of $297 million. In comparison, last year the company earned revenue of $5.2 billion and had a net profit of $234 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KMX in relation to earlier this year. Last month, Thomas Reedy, the EVP of Finance of KMX sold 74,220 shares for a total of $7,583,800.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
CarMax, Inc. is as a holding company, which engages in the retail of used vehicles and wholesale vehicle auction operator. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) business segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations. The CAF segment provides vehicle financing to customers buying retail vehicles. The company was founded by Richard L. Sharp and William Austin Ligon in September 1993 and is headquartered in Richmond, VA.