CarMax (NYSE:KMX) Earns Neutral Rating from Wedbush

CarMax (NYSE:KMX – Get Rating)‘s stock had its “neutral” rating restated by investment analysts at Wedbush in a report issued on Thursday, Benzinga reports. They presently have a $55.00 price objective on the stock. Wedbush’s price target would suggest a potential downside of 2.24% from the stock’s current price. Wedbush also issued estimates for CarMax’s FY2023 earnings at $2.78 EPS, Q3 2024 earnings at $0.26 EPS, Q4 2024 earnings at $0.24 EPS and FY2026 earnings at $3.06 EPS.

A number of other equities research analysts also recently weighed in on KMX. Truist Financial initiated coverage on CarMax in a report on Thursday, February 23rd. They set a “hold” rating and a $66.00 target price for the company. JPMorgan Chase & Co. dropped their target price on CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Friday, March 10th. Argus downgraded CarMax from a “buy” rating to a “hold” rating in a research note on Thursday, January 5th. StockNews.com initiated coverage on CarMax in a research note on Thursday. They issued a “sell” rating for the company. Finally, Evercore ISI dropped their price target on CarMax from $63.00 to $60.00 and set an “in-line” rating for the company in a research note on Friday, December 23rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $62.50.

CarMax Stock Down 3.8 %

KMX opened at $56.26 on Thursday. CarMax has a fifty-two week low of $52.10 and a fifty-two week high of $106.24. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.81 and a current ratio of 2.57. The company has a market capitalization of $8.89 billion, a P/E ratio of 15.76, a P/E/G ratio of 8.01 and a beta of 1.43. The stock has a fifty day moving average of $68.87 and a 200-day moving average of $69.07.

CarMax (NYSE:KMX – Get Rating) last posted its earnings results on Thursday, December 22nd. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.34). CarMax had a return on equity of 10.69% and a net margin of 1.82%. The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $7.18 billion. During the same period in the prior year, the business posted $1.63 EPS. The firm’s quarterly revenue was down 23.7% compared to the same quarter last year. On average, equities analysts expect that CarMax will post 2.8 EPS for the current year.

Insiders Place Their Bets

In other CarMax news, President & CEO William D. Nash bought 8,220 shares of the stock in a transaction on Friday, December 30th. The stock was purchased at an average price of $60.98 per share, with a total value of $501,255.60. Following the completion of the purchase, the insider now owns 165,128 shares in the company, valued at $10,069,505.44. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.65% of the company’s stock.

Institutional Trading of CarMax

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lakewood Asset Management LLC bought a new stake in shares of CarMax during the fourth quarter worth about $1,377,000. ST Germain D J Co. Inc. bought a new stake in shares of CarMax during the fourth quarter worth about $44,000. Natixis grew its holdings in shares of CarMax by 20.5% during the fourth quarter. Natixis now owns 44,509 shares of the company’s stock worth $2,710,000 after purchasing an additional 7,578 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in CarMax by 22.7% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 85,838 shares of the company’s stock valued at $5,227,000 after acquiring an additional 15,904 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in CarMax by 54.1% in the fourth quarter. Macquarie Group Ltd. now owns 9,386 shares of the company’s stock valued at $571,000 after acquiring an additional 3,297 shares during the last quarter.

About CarMax

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CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operators. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations.