CarMax (NYSE:KMX) Price Target Cut to $72.00

CarMax (NYSE:KMX) had its target price dropped by equities research analysts at Truist Financial from $75.00 to $72.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 0.83% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI upped their price target on shares of CarMax from $78.00 to $85.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Robert W. Baird reduced their price target on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research report on Friday. Wedbush upped their price target on shares of CarMax from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Bank of America upped their price target on shares of CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Finally, Needham & Company LLC reduced their price target on shares of CarMax from $99.00 to $91.00 and set a “buy” rating for the company in a research report on Friday. Three 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $78.67.

CarMax Trading Down 0.8 %

Shares of NYSE:KMX opened at $71.41 on Friday. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.09 and a beta of 1.61. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.71 and a current ratio of 2.26. The company has a 50 day moving average price of $78.80 and a 200 day moving average price of $72.16.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, research analysts anticipate that CarMax will post 3.61 EPS for the current fiscal year.

Insider Activity

In other news, VP Jill A. Livesay sold 14,199 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Jill A. Livesay sold 14,199 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diane L. Cafritz sold 22,000 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the transaction, the executive vice president now owns 5,073 shares in the company, valued at approximately $355,515.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,929 shares of company stock worth $2,740,901. 1.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. VitalStone Financial LLC acquired a new position in CarMax in the 1st quarter valued at $33,000. Allworth Financial LP grew its stake in CarMax by 153.3% in the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after buying an additional 207 shares during the last quarter. CENTRAL TRUST Co grew its stake in CarMax by 100.0% in the 3rd quarter. CENTRAL TRUST Co now owns 400 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in CarMax by 1,081.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after buying an additional 400 shares during the last quarter. Finally, Ronald Blue Trust Inc. grew its stake in CarMax by 194.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 438 shares of the company’s stock valued at $31,000 after buying an additional 289 shares during the last quarter.

About CarMax

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.