CarMax (NYSE:KMX) Downgraded by Stephens to Equal Weight

Stephens cut shares of CarMax (NYSE:KMX) from an overweight rating to an equal weight rating in a report issued on Tuesday morning, MarketBeat.com reports. The firm currently has $42.00 price objective on the stock, down from their prior price objective of $53.00.

A number of other analysts have also recently weighed in on KMX. JPMorgan Chase & Co. dropped their price target on CarMax from $65.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, September 26th. Evercore ISI reissued an “in-line” rating and issued a $52.00 price objective (down from $80.00) on shares of CarMax in a report on Friday, September 26th. Mizuho decreased their price objective on CarMax from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, July 3rd. Seaport Res Ptn lowered CarMax from a “strong-buy” rating to a “hold” rating in a report on Sunday, September 28th. Finally, Benchmark initiated coverage on CarMax in a report on Thursday, July 17th. They issued a “buy” rating and a $75.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, CarMax presently has an average rating of “Hold” and an average target price of $54.42.

CarMax Stock Down 4.1%

Shares of CarMax stock opened at $44.89 on Tuesday. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 2.87. The business’s 50 day simple moving average is $56.43 and its 200-day simple moving average is $63.54. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.88 and a beta of 1.27. 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 results on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 8.51% and a net margin of 1.98%.The firm’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 posted $0.85 earnings per share. Equities research analysts forecast that CarMax will post 3.23 earnings per share for the current year.

Hedge Funds Weigh In On CarMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Redmond Asset Management LLC boosted its stake in CarMax by 0.3% during the 1st quarter. Redmond Asset Management LLC now owns 50,803 shares of the company’s stock valued at $3,959,000 after purchasing an additional 152 shares in the last quarter. Maia Wealth LLC lifted its position in shares of CarMax by 0.6% during the 1st quarter. Maia Wealth LLC now owns 26,099 shares of the company’s stock valued at $2,034,000 after acquiring an additional 157 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of CarMax by 3.1% during the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after acquiring an additional 161 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of CarMax by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after acquiring an additional 173 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of CarMax by 5.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company’s stock valued at $262,000 after acquiring an additional 176 shares during the last quarter.

About CarMax

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.