Needham & Company LLC Lowers CarMax (NYSE:KMX) Price Target to $91.00

CarMax (NYSE:KMX) had its price objective reduced by analysts at Needham & Company LLC from $99.00 to $91.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 27.43% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada restated 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 raised their price target on CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Wedbush raised their price target on CarMax from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Mizuho initiated coverage on CarMax in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, Evercore ISI raised their price target on CarMax from $78.00 to $85.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $78.67.

CarMax Stock Down 0.8 %

KMX 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 company 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 fifty-two week low of $59.66 and a fifty-two week high of $88.22. The stock has a fifty day moving average of $78.80 and a 200-day moving average of $72.16.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, April 11th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a return on equity of 7.26% and a net margin of 1.81%. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the business earned $0.44 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, equities research analysts predict that CarMax will post 3.61 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Jill A. Livesay sold 14,199 shares of the firm’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 transaction of $1,006,567.11. Following the transaction, the vice president now directly owns 9,068 shares in the company, valued at approximately $642,830.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Diane L. Cafritz sold 2,730 shares of CarMax 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 sale, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $357,849.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jill A. Livesay sold 14,199 shares of CarMax 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 sale, 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. Insiders have sold a total of 38,929 shares of company stock worth $2,740,901 in the last ninety days. 1.66% of the stock is owned by insiders.

Institutional Investors Weigh In On CarMax

A number of large investors have recently made changes to their positions in the business. Kinneret Advisory LLC grew its position in shares of CarMax by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 5,192 shares of the company’s stock worth $501,000 after buying an additional 116 shares during the last quarter. GAMMA Investing LLC grew its position in shares of CarMax by 6.5% in the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock worth $188,000 after buying an additional 131 shares during the last quarter. Czech National Bank boosted its position in shares of CarMax by 0.5% during the fourth quarter. Czech National Bank now owns 27,789 shares of the company’s stock valued at $2,133,000 after purchasing an additional 138 shares in the last quarter. Spire Wealth Management boosted its position in shares of CarMax by 8.3% during the fourth quarter. Spire Wealth Management now owns 1,908 shares of the company’s stock valued at $146,000 after purchasing an additional 147 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of CarMax by 32.8% during the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock valued at $48,000 after purchasing an additional 155 shares in 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.