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

CarMax (NYSE:KMX) had its price objective trimmed by Evercore ISI from $79.00 to $76.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has an in-line rating on the stock.

A number of other analysts have also recently issued reports on the company. Needham & Company LLC upped their target price on CarMax from $87.00 to $90.00 and gave the company a buy rating in a research report on Friday, September 27th. BNP Paribas raised CarMax to a strong sell rating in a research note on Friday, September 27th. Wedbush reaffirmed an outperform rating and set a $95.00 price objective on shares of CarMax in a research note on Tuesday, September 17th. Mizuho reduced their price objective on CarMax from $75.00 to $72.00 and set a neutral rating for the company in a research note on Tuesday, June 18th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $80.00 price objective on shares of CarMax in a research note on Friday, June 21st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $79.45.

CarMax Stock Down 1.5 %

Shares of NYSE KMX opened at $73.09 on Thursday. The stock has a market cap of $11.41 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.56 and a beta of 1.68. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22. The business has a 50-day moving average price of $79.16 and a 200 day moving average price of $76.14.

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

Insider Activity at CarMax

In related news, SVP John M. Stuckey III sold 19,673 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 969 shares of the company’s stock, valued at $79,467.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CarMax news, SVP John M. Stuckey III sold 19,673 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $82.01, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Nash sold 120,000 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 Investors Weigh In On CarMax

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Community Trust NA purchased a new stake in shares of CarMax in the second quarter valued at $29,000. Quarry LP grew its position in shares of CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after purchasing an additional 184 shares during the period. Blue Trust Inc. grew its position in shares of CarMax by 134.1% in 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 during the period. Studio Investment Management LLC grew its position in shares of CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of CarMax in the first quarter valued at $55,000.

About CarMax

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.