CarMax (NYSE:KMX) PT Lowered to $91.00 at Needham & Company LLC

CarMax (NYSE:KMX) had its price target lowered by Needham & Company LLC from $99.00 to $91.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently commented on the stock. Truist Financial boosted their price target on shares of CarMax from $72.00 to $75.00 and gave the stock a hold rating in a report on Friday, December 22nd. Evercore ISI raised their target price on CarMax from $78.00 to $85.00 and gave the stock an in-line rating in a research report on Tuesday, March 26th. Mizuho assumed coverage on CarMax in a report on Tuesday, March 19th. They issued a neutral rating and a $80.00 price target for the company. Oppenheimer reissued an outperform rating and set a $105.00 price objective on shares of CarMax in a report on Tuesday, April 9th. Finally, Royal Bank of Canada restated an outperform rating and issued a $83.00 target price on shares of CarMax in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $78.67.

CarMax Stock Down 0.8 %

CarMax stock opened at $71.41 on Friday. The firm has a market capitalization of $11.28 billion, a P/E ratio of 23.57, a P/E/G ratio of 1.08 and a beta of 1.61. The stock’s fifty day simple moving average is $78.80 and its 200-day simple moving average is $72.10. CarMax has a twelve month low of $59.66 and a twelve month high of $88.22. The company has a current ratio of 2.26, a quick ratio of 0.71 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The company had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the business earned $0.44 EPS. CarMax’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities analysts expect that CarMax will post 3.58 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Diane L. Cafritz sold 2,730 shares of the firm’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 transaction, the executive vice president now owns 5,073 shares of the company’s stock, valued at $357,849.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the transaction, the vice president now directly owns 9,068 shares of the company’s stock, valued at approximately $642,830.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diane L. Cafritz sold 2,730 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $357,849.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,929 shares of company stock valued at $2,740,901. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of CarMax during the 4th quarter worth approximately $288,278,000. Morningstar Investment Services LLC raised its position in CarMax by 95.4% in the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after acquiring an additional 1,326,840 shares in the last quarter. Wellington Management Group LLP lifted its holdings in CarMax by 29.4% in the first quarter. Wellington Management Group LLP now owns 3,548,930 shares of the company’s stock valued at $342,400,000 after acquiring an additional 805,438 shares during the period. American Century Companies Inc. boosted its position in shares of CarMax by 674.3% during the 3rd quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock worth $57,059,000 after purchasing an additional 702,526 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of CarMax by 2,311.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 603,659 shares of the company’s stock worth $42,697,000 after purchasing an additional 578,622 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.