CarMax (NYSE:KMX) Price Target Lowered to $47.00 at Truist Financial

CarMax (NYSE:KMX) had its price objective cut by Truist Financial from $74.00 to $47.00 in a report released on Friday,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also commented on KMX. Robert W. Baird cut their price objective on shares of CarMax from $90.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday. Royal Bank Of Canada cut their price target on CarMax from $81.00 to $59.00 and set an “outperform” rating for the company in a report on Friday. JPMorgan Chase & Co. upped their price target on CarMax from $58.00 to $65.00 and gave the company a “neutral” rating in a report on Thursday, September 18th. Mizuho cut their target price on CarMax from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, July 3rd. Finally, Wedbush lowered CarMax from an “outperform” rating to a “neutral” rating and cut their target price for the company from $84.00 to $54.00 in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, CarMax has an average rating of “Moderate Buy” and a consensus target price of $67.42.

CarMax Stock Down 1.6%

Shares of KMX stock opened at $44.86 on Friday. CarMax has a 12 month low of $42.75 and a 12 month high of $91.25. The firm has a market cap of $6.73 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The stock has a 50 day moving average of $58.59 and a 200-day moving average of $64.81. The company has a quick ratio of 0.80, a current ratio of 2.46 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX) last released its earnings results on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.39). The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $7.07 billion. CarMax had a net margin of 1.98% and a return on equity of 8.51%. CarMax’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 earnings per share. On average, equities analysts predict that CarMax will post 3.23 EPS for the current year.

Insider Activity

In related news, EVP Jon G. Daniels sold 1,540 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the sale, the executive vice president owned 2,779 shares of the company’s stock, valued at $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

Several hedge funds and other institutional investors have recently modified their holdings of KMX. Texas Permanent School Fund Corp increased its stake in CarMax by 59.5% in the second quarter. Texas Permanent School Fund Corp now owns 27,488 shares of the company’s stock worth $1,847,000 after purchasing an additional 10,259 shares during the period. Osaic Holdings Inc. increased its stake in shares of CarMax by 49.0% during the second quarter. Osaic Holdings Inc. now owns 159,895 shares of the company’s stock valued at $10,768,000 after buying an additional 52,576 shares during the period. Orion Porfolio Solutions LLC increased its position in CarMax by 14.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 24,411 shares of the company’s stock valued at $1,641,000 after purchasing an additional 3,070 shares during the period. Thrivent Financial for Lutherans increased its position in CarMax by 202.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 26,230 shares of the company’s stock valued at $1,762,000 after purchasing an additional 17,548 shares during the period. Finally, Cape Investment Advisory Inc. increased its position in CarMax by 3.7% during the 2nd quarter. Cape Investment Advisory Inc. now owns 15,792 shares of the company’s stock valued at $1,061,000 after purchasing an additional 568 shares during the period.

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.