BNP Paribas Exane Has Lowered Expectations for CarMax (NYSE:KMX) Stock Price

CarMax (NYSE:KMX) had its target price cut by equities research analysts at BNP Paribas Exane from $52.00 to $35.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage currently has an “underperform” rating on the stock. BNP Paribas Exane’s target price points to a potential downside of 21.98% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Morgan Stanley began coverage on CarMax in a research note on Tuesday, July 1st. They set an “overweight” rating and a $80.00 target price on the stock. Truist Financial lowered their target price on CarMax from $74.00 to $47.00 and set a “hold” rating for the company in a report on Friday. JPMorgan Chase & Co. raised their target price on CarMax from $58.00 to $65.00 and gave the company a “neutral” rating in a report on Thursday, September 18th. Robert W. Baird lowered their target price on CarMax from $90.00 to $60.00 and set an “outperform” rating for the company in a report on Friday. Finally, Royal Bank Of Canada lowered their target price on CarMax from $81.00 to $59.00 and set an “outperform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.31.

CarMax Stock Down 1.6%

Shares of NYSE:KMX 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 fifty day moving average of $58.59 and a two-hundred day moving average of $64.75. The stock has a market cap of $6.73 billion, a P/E ratio of 13.16, a PEG ratio of 0.73 and a beta of 1.35. CarMax has a 52-week low of $42.75 and a 52-week high of $91.25.

CarMax (NYSE:KMX) last announced its quarterly 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). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same period last year, the company earned $0.85 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, research analysts expect that CarMax will post 3.23 earnings per share for the current year.

Insider Buying and Selling at CarMax

In related news, EVP Jon G. Daniels sold 1,540 shares of the company’s stock in a transaction that occurred 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 directly owned 2,779 shares in the company, valued at approximately $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Trading of CarMax

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CarMax by 13.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company’s stock worth $1,571,000 after buying an additional 2,375 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of CarMax during the first quarter worth approximately $1,753,000. Sequoia Financial Advisors LLC increased its stake in shares of CarMax by 5.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company’s stock worth $262,000 after buying an additional 176 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of CarMax by 54.9% during the second quarter. Wedge Capital Management L L P NC now owns 102,632 shares of the company’s stock worth $6,898,000 after buying an additional 36,376 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of CarMax by 3.5% during the first quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company’s stock worth $4,726,000 after buying an additional 2,078 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.