Evercore ISI Lowers CarMax (NYSE:KMX) Price Target to $68.00

CarMax (NYSE:KMX) had its price objective reduced by analysts at Evercore ISI from $73.00 to $68.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price points to a potential downside of 5.07% from the company’s previous close.

Several other brokerages have also issued reports on KMX. Mizuho cut their price objective on CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday. JPMorgan Chase & Co. cut their target price on CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Monday, April 15th. Oppenheimer restated an “outperform” rating and set a $105.00 target price on shares of CarMax in a report on Tuesday, April 9th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of CarMax in a research report on Tuesday. Finally, Needham & Company LLC lowered their price target on CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, CarMax currently has an average rating of “Hold” and an average target price of $76.17.

CarMax Price Performance

KMX opened at $71.63 on Thursday. The stock has a fifty day moving average of $70.25 and a 200-day moving average of $73.74. The firm has a market capitalization of $11.27 billion, a P/E ratio of 23.64, a PEG ratio of 1.39 and a beta of 1.69. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMX) last released its earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The business had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.16 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. CarMax’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 EPS. Equities analysts forecast that CarMax will post 3.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Diane L. Cafritz sold 15,356 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the transaction, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CarMax

Several institutional investors and hedge funds have recently made changes to their positions in KMX. DekaBank Deutsche Girozentrale boosted its stake in CarMax by 1.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,039 shares of the company’s stock worth $2,682,000 after purchasing an additional 498 shares during the period. Cetera Advisors LLC boosted its stake in CarMax by 48.7% in the 1st quarter. Cetera Advisors LLC now owns 9,178 shares of the company’s stock worth $799,000 after purchasing an additional 3,004 shares during the period. Cetera Investment Advisers boosted its stake in CarMax by 942.3% in the 1st quarter. Cetera Investment Advisers now owns 125,790 shares of the company’s stock worth $10,958,000 after purchasing an additional 113,721 shares during the period. Atria Investments Inc boosted its stake in CarMax by 11.6% in the 1st quarter. Atria Investments Inc now owns 41,221 shares of the company’s stock worth $3,591,000 after purchasing an additional 4,286 shares during the period. Finally, Swedbank AB bought a new stake in CarMax during the 1st quarter worth about $1,406,000.

CarMax Company Profile

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.