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

CarMax (NYSE:KMX) had its price objective dropped by analysts at Evercore ISI from $79.00 to $76.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 3.98% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Needham & Company LLC boosted their price target on shares of CarMax from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada increased their price target on CarMax from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. StockNews.com raised CarMax to a “sell” rating in a research report on Friday, July 26th. 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, June 18th. Finally, Morgan Stanley restated an “overweight” rating and set a $80.00 target price on shares of CarMax in a report on Friday, June 21st. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, CarMax has an average rating of “Hold” and a consensus price target of $79.45.

CarMax Stock Down 1.5 %

NYSE:KMX opened at $73.09 on Thursday. The stock has a 50-day simple moving average of $79.36 and a 200 day simple moving average of $76.22. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22. The company has a market cap of $11.41 billion, a PE ratio of 28.55, a PEG ratio of 1.56 and a beta of 1.68. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. CarMax’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. On average, sell-side analysts expect that CarMax will post 2.99 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, SVP John M. Stuckey III sold 19,673 shares of CarMax stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $82.01, for a total transaction of $1,613,382.73. Following the completion of the sale, the senior vice president now owns 969 shares of the company’s stock, valued at approximately $79,467.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other CarMax news, CEO William D. Nash sold 120,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the transaction, the chief executive officer now owns 181,683 shares in the company, valued at $14,465,600.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John M. Stuckey III sold 19,673 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $82.01, for a total value of $1,613,382.73. Following the transaction, the senior vice president now owns 969 shares in the company, valued at approximately $79,467.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,012 shares of company stock worth $14,803,843 over the last ninety days. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KMX. First Community Trust NA bought a new position in CarMax in the 2nd quarter valued at about $29,000. Quarry LP increased its stake in CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after acquiring an additional 184 shares during the last quarter. Blue Trust Inc. raised its position in CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares in the last quarter. Studio Investment Management LLC lifted its stake in CarMax by 176.7% during the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after purchasing an additional 334 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of CarMax in the 1st quarter valued at $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.