CarMax (NYSE:KMX) Price Target Lowered to $60.00 at Needham & Company LLC

CarMax (NYSE:KMX) had its price target decreased by Needham & Company LLC from $92.00 to $60.00 in a research note published on Friday, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Truist Financial boosted their price objective on CarMax from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Monday, June 23rd. Benchmark initiated coverage on CarMax in a research note on Thursday, July 17th. They issued a “buy” rating and a $75.00 price target for the company. Mizuho reduced their target price on shares of CarMax from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, July 3rd. Wedbush cut shares of CarMax from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $84.00 to $54.00 in a research report on Thursday. Finally, Morgan Stanley began coverage on shares of CarMax in a report on Tuesday, July 1st. They issued an “overweight” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.42.

CarMax Stock Down 1.6%

KMX stock opened at $44.86 on Friday. The company has a quick ratio of 0.80, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. The business has a 50 day moving average price of $58.59 and a two-hundred day moving average price of $64.81. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 0.74 and a beta of 1.35. CarMax has a twelve month low of $42.75 and a twelve month high of $91.25.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The firm had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the business earned $0.85 EPS. The business’s revenue was down 6.0% on a year-over-year basis. Analysts anticipate that CarMax will post 3.23 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On CarMax

A number of hedge funds have recently bought and sold shares of the company. Zions Bancorporation National Association UT bought a new stake in CarMax in the first quarter worth approximately $27,000. CYBER HORNET ETFs LLC bought a new stake in CarMax in the second quarter worth approximately $28,000. MUFG Securities EMEA plc bought a new stake in shares of CarMax in the 2nd quarter valued at $30,000. Accent Capital Management LLC bought a new stake in shares of CarMax in the 1st quarter valued at $34,000. Finally, Strengthening Families & Communities LLC increased its stake in shares of CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after acquiring an additional 256 shares in 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.