Evercore ISI Lowers CarMax (NYSE:KMX) Price Target to $74.00

CarMax (NYSE:KMX) had its price target dropped by research analysts at Evercore ISI from $85.00 to $74.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective suggests a potential upside of 3.63% from the company’s current price.

Several other equities analysts have also issued reports on KMX. Bank of America boosted their price target on CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Wedbush boosted their price target on CarMax from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research note on Tuesday, April 9th. Needham & Company LLC lowered their price objective on CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Mizuho lowered their price objective on CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday. 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’s stock. According to MarketBeat, CarMax presently has an average rating of “Hold” and a consensus price target of $78.67.

CarMax Trading Down 0.8 %

CarMax stock opened at $71.41 on Friday. 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 business’s 50-day simple moving average is $78.80 and its 200-day simple moving average is $72.16. The firm has a market capitalization of $11.28 billion, a PE ratio of 23.57, a PEG ratio of 1.09 and a beta of 1.61. CarMax has a 52 week low of $59.66 and a 52 week high of $88.22.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. Equities research analysts forecast that CarMax will post 3.61 earnings per share for the current year.

Insiders Place Their Bets

In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the company’s stock in a transaction on Monday, January 29th. The stock was 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 of the company’s stock, valued at approximately $642,830.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, 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 value of $192,574.20. Following the transaction, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $357,849.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jill A. Livesay sold 14,199 shares of the firm’s stock in a transaction 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 $642,830.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,929 shares of company stock valued at $2,740,901. 1.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KMX. Norges Bank bought a new position in shares of CarMax in the 4th quarter worth $288,278,000. Morningstar Investment Services LLC raised its stake in CarMax by 95.4% during the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after buying an additional 1,326,840 shares during the period. Wellington Management Group LLP raised its stake in CarMax by 29.4% during the 1st quarter. Wellington Management Group LLP now owns 3,548,930 shares of the company’s stock worth $342,400,000 after buying an additional 805,438 shares during the period. American Century Companies Inc. raised its stake in 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 buying an additional 702,526 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in 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 buying 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.