Needham & Company LLC Cuts CarMax (NYSE:KMX) Price Target to $92.00

CarMax (NYSE:KMX) had its price target decreased by Needham & Company LLC from $101.00 to $92.00 in a report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Royal Bank of Canada raised their target price on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their target price on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Mizuho increased their price target on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $100.00 price objective on shares of CarMax in a research report on Tuesday, April 1st. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.73.

CarMax Stock Up 3.1 %

NYSE KMX opened at $68.53 on Friday. The stock’s 50 day simple moving average is $78.61 and its 200 day simple moving average is $79.17. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. CarMax has a one year low of $63.23 and a one year high of $91.25. The firm has a market cap of $10.54 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58.

Insiders Place Their Bets

In other news, VP Jill A. Livesay sold 13,009 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total value of $1,053,729.00. Following the sale, the vice president now owns 9,448 shares of the company’s stock, valued at $765,288. The trade was a 57.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total transaction of $407,150.00. Following the completion of the transaction, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at approximately $1,649,771.80. This trade represents a 19.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,878 shares of company stock worth $1,872,699 over the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CarMax

Several hedge funds have recently modified their holdings of the stock. Gilman Hill Asset Management LLC grew its stake in CarMax by 7.5% in the first quarter. Gilman Hill Asset Management LLC now owns 34,778 shares of the company’s stock valued at $2,710,000 after purchasing an additional 2,416 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of CarMax in the 1st quarter valued at approximately $490,000. Triangle Securities Wealth Management grew its stake in shares of CarMax by 42.0% in the first quarter. Triangle Securities Wealth Management now owns 20,218 shares of the company’s stock valued at $1,575,000 after buying an additional 5,983 shares in the last quarter. Merit Financial Group LLC grew its stake in shares of CarMax by 79.0% in the first quarter. Merit Financial Group LLC now owns 13,129 shares of the company’s stock valued at $1,023,000 after buying an additional 5,796 shares in the last quarter. Finally, Eldred Rock Partners LLC increased its holdings in CarMax by 10.2% during the first quarter. Eldred Rock Partners LLC now owns 154,941 shares of the company’s stock worth $11,961,000 after buying an additional 14,289 shares during the last quarter.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.