CarMax (NYSE:KMX) Given New $60.00 Price Target at Benchmark

CarMax (NYSE:KMX) had its target price lowered by Benchmark from $75.00 to $60.00 in a research note published on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the stock.

KMX has been the subject of several other reports. Mizuho decreased their price objective 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 lowered shares of CarMax from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $84.00 to $54.00 in a research report on Thursday, September 25th. BNP Paribas Exane decreased their price objective on shares of CarMax from $52.00 to $35.00 and set an “underperform” rating for the company in a research report on Friday, September 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of CarMax in a research report on Saturday, September 27th. Finally, Evercore ISI reissued an “in-line” rating and set a $52.00 price target (down from $80.00) on shares of CarMax in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $54.42.

CarMax Stock Performance

Shares of CarMax stock opened at $44.89 on Tuesday. The firm has a market capitalization of $6.59 billion, a P/E ratio of 13.16, a PEG ratio of 0.88 and a beta of 1.27. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. The company has a 50 day moving average price of $56.43 and a 200 day moving average price of $63.54. 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 data 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 during the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a net margin of 1.98% and a return on equity of 8.51%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. Sell-side analysts expect that CarMax will post 3.23 EPS for the current year.

Hedge Funds Weigh In On CarMax

Several institutional investors have recently made changes to their positions in KMX. Sivia Capital Partners LLC purchased a new position in shares of CarMax during the 1st quarter valued at approximately $204,000. Farther Finance Advisors LLC increased its holdings in shares of CarMax by 138.3% during the 1st quarter. Farther Finance Advisors LLC now owns 2,397 shares of the company’s stock valued at $189,000 after purchasing an additional 1,391 shares in the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of CarMax by 12.6% during the 1st quarter. Pallas Capital Advisors LLC now owns 10,911 shares of the company’s stock valued at $850,000 after purchasing an additional 1,225 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of CarMax by 12.6% during the 1st quarter. GAMMA Investing LLC now owns 6,620 shares of the company’s stock valued at $516,000 after purchasing an additional 742 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of CarMax by 105.7% during the 1st quarter. SG Americas Securities LLC now owns 11,303 shares of the company’s stock valued at $881,000 after purchasing an additional 5,808 shares in 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.