Robert W. Baird Lowers CarMax (NYSE:KMX) Price Target to $84.00

CarMax (NYSE:KMX) had its price objective cut by investment analysts at Robert W. Baird from $88.00 to $84.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 17.63% from the company’s current price.

Several other research firms have also recently issued reports on KMX. Evercore ISI raised their target price on shares of CarMax from $78.00 to $85.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. Needham & Company LLC decreased their target price on shares of CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday. Bank of America raised their target price on shares of CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Oppenheimer reissued an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $83.00 price target on shares of CarMax in a research 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $78.67.

CarMax Stock Performance

Shares of NYSE KMX opened at $71.41 on Friday. The company has a market cap of $11.28 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.26 and a quick ratio of 0.71. The company has a 50-day simple moving average of $78.80 and a 200-day simple moving average of $72.16.

CarMax (NYSE:KMX) last released its 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 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 analyst estimates of $5.76 billion. During the same period in the prior year, the business posted $0.44 earnings per share. CarMax’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts anticipate that CarMax will post 3.61 earnings per share for the current year.

Insider Activity

In related news, EVP Diane L. Cafritz sold 22,000 shares of CarMax stock in a transaction on Friday, January 26th. The shares were sold at an average price of $70.08, for a total value of $1,541,760.00. Following the completion of the sale, the executive vice president now owns 5,073 shares in the company, valued at $355,515.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Diane L. Cafritz sold 22,000 shares of CarMax stock in a transaction on Friday, January 26th. The shares were sold at an average price of $70.08, for a total value of $1,541,760.00. Following the completion of the sale, the executive vice president now owns 5,073 shares in the company, valued at $355,515.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,006,567.11. Following the sale, the vice president now owns 9,068 shares of the company’s stock, valued at approximately $642,830.52. The disclosure for this sale can be found here. Insiders have sold 38,929 shares of company stock worth $2,740,901 over the last 90 days. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Several hedge funds and other institutional investors have recently modified their holdings of KMX. Norges Bank acquired a new position in shares of CarMax during the fourth quarter valued at $288,278,000. Morningstar Investment Services LLC boosted its holdings in shares of CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after acquiring an additional 1,326,840 shares during the period. 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 worth $342,400,000 after purchasing an additional 805,438 shares during the period. American Century Companies Inc. lifted its holdings in CarMax by 674.3% in the third 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 during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in CarMax by 2,311.1% in the third 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.