CarMax (NYSE:KMX) PT Lowered to $74.00 at Evercore ISI

CarMax (NYSE:KMX) had its price objective cut by Evercore ISI from $85.00 to $74.00 in a report released on Friday morning, Benzinga reports. They currently have an in-line rating on the stock.

Several other research analysts also recently weighed in on KMX. Truist Financial cut their target price on shares of CarMax from $75.00 to $72.00 and set a hold rating for the company in a research note on Friday. Royal Bank of Canada reissued an outperform rating and issued a $83.00 target price on shares of CarMax in a research note on Monday, April 8th. Bank of America boosted their target price on shares of CarMax from $44.00 to $50.00 and gave the company an underperform rating in a research note on Thursday, February 29th. Mizuho dropped their price objective on shares of CarMax from $80.00 to $75.00 and set a neutral rating for the company in a research note on Friday. Finally, Oppenheimer reaffirmed an outperform rating and set a $105.00 price objective on shares of CarMax in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $78.25.

CarMax Price Performance

CarMax stock opened at $69.46 on Friday. The firm’s 50-day simple moving average is $78.77 and its 200 day simple moving average is $72.10. CarMax has a 52 week low of $59.66 and a 52 week high of $88.22. The firm has a market capitalization of $10.97 billion, a PE ratio of 22.92, a P/E/G ratio of 1.09 and a beta of 1.61. 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 announced its earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities research analysts predict that CarMax will post 3.58 EPS for the current fiscal year.

Insider Transactions at CarMax

In other news, EVP Diane L. Cafritz sold 2,730 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total transaction of $192,574.20. Following the completion of the sale, the executive vice president now owns 5,073 shares in the company, valued at approximately $357,849.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $70.89, for a total value of $1,006,567.11. Following the completion of the transaction, the vice president now owns 9,068 shares in the company, valued at approximately $642,830.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Diane L. Cafritz sold 2,730 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total value of $192,574.20. Following the completion of the transaction, the executive vice president now owns 5,073 shares of the company’s stock, valued at approximately $357,849.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,929 shares of company stock worth $2,740,901. 1.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CarMax

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in CarMax by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after acquiring an additional 222,132 shares during the period. BlackRock Inc. boosted its holdings in CarMax by 1.8% in the 1st quarter. BlackRock Inc. now owns 10,633,886 shares of the company’s stock worth $683,546,000 after acquiring an additional 184,104 shares during the period. Akre Capital Management LLC boosted its holdings in CarMax by 0.7% in the 1st quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock worth $708,159,000 after acquiring an additional 49,780 shares during the period. State Street Corp boosted its holdings in CarMax by 3.2% in the 2nd quarter. State Street Corp now owns 6,220,212 shares of the company’s stock worth $520,632,000 after acquiring an additional 193,111 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its holdings in CarMax by 3.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company’s stock worth $392,458,000 after acquiring an additional 210,440 shares during the period.

CarMax Company Profile

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.