CarMax (NYSE:KMX) Price Target Cut to $76.00

CarMax (NYSE:KMX) had its target price decreased by analysts at Evercore ISI from $79.00 to $76.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective would suggest a potential upside of 2.58% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded CarMax to a “sell” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their price objective on CarMax from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Truist Financial boosted their price objective on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Wedbush restated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a report on Tuesday, September 17th. Finally, Morgan Stanley restated an “overweight” rating and set a $80.00 price objective on shares of CarMax in a report on Friday, June 21st. Four analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CarMax has a consensus rating of “Hold” and a consensus target price of $79.45.

CarMax Trading Down 1.8 %

Shares of CarMax stock traded down $1.34 on Thursday, reaching $74.09. The company had a trading volume of 360,935 shares, compared to its average volume of 1,944,982. The firm has a market cap of $11.56 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 1.56 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The firm’s 50-day moving average price is $79.51 and its two-hundred day moving average price is $76.23. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. CarMax’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 EPS. As a group, research analysts predict that CarMax will post 2.99 earnings per share for the current fiscal year.

Insider Activity at CarMax

In other CarMax news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other CarMax news, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John M. Stuckey III sold 19,673 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $82.01, for a total value of $1,613,382.73. Following the sale, the senior vice president now owns 969 shares in the company, valued at approximately $79,467.69. The disclosure for this sale can be found here. Insiders have sold 184,012 shares of company stock valued at $14,803,843 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

Large investors have recently added to or reduced their stakes in the company. First Community Trust NA purchased a new stake in shares of CarMax in the second quarter worth about $29,000. Quarry LP boosted its stake in shares of CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after buying an additional 184 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after buying an additional 287 shares during the last quarter. Studio Investment Management LLC boosted its stake in shares of CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after buying an additional 334 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of CarMax in the first quarter worth about $55,000.

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.