Evercore ISI Cuts CarMax (NYSE:KMX) Price Target to $105.00

CarMax (NYSE:KMX) had its target price cut by equities research analysts at Evercore ISI from $107.00 to $105.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 44.72% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Truist Financial boosted their price target on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Needham & Company LLC upped their price objective on CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Stephens began coverage on CarMax in a research report on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price objective for the company. Finally, Mizuho upped their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.45.

CarMax Stock Down 0.3 %

KMX stock opened at $72.55 on Tuesday. CarMax has a 1-year low of $65.83 and a 1-year high of $91.25. The business has a fifty day moving average price of $82.22 and a 200-day moving average price of $80.15. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The stock has a market capitalization of $11.16 billion, a P/E ratio of 24.59, a P/E/G ratio of 1.67 and a beta of 1.76.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.19. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Equities analysts forecast that CarMax will post 3.23 earnings per share for the current fiscal year.

Insider Transactions at CarMax

In related news, CEO William D. Nash sold 120,513 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the completion of the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $15,123,292.92. This represents a 39.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jill A. Livesay sold 13,009 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total value of $1,053,729.00. Following the transaction, the vice president now directly owns 9,448 shares of the company’s stock, valued at approximately $765,288. The trade was a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,467 shares of company stock valued at $21,915,445 over the last 90 days. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Centaurus Financial Inc. boosted its stake in CarMax by 32.1% during the fourth quarter. Centaurus Financial Inc. now owns 9,969 shares of the company’s stock valued at $815,000 after buying an additional 2,422 shares during the last quarter. Siemens Fonds Invest GmbH bought a new position in CarMax during the fourth quarter valued at approximately $1,131,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CarMax during the fourth quarter valued at approximately $8,848,000. Ameriflex Group Inc. bought a new position in CarMax during the fourth quarter valued at approximately $53,000. Finally, Ascent Group LLC boosted its stake in CarMax by 7.0% during the fourth quarter. Ascent Group LLC now owns 54,315 shares of the company’s stock valued at $4,441,000 after buying an additional 3,530 shares during the last quarter.

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.