CarMax (NYSE:KMX) Price Target Cut to $72.00

CarMax (NYSE:KMX) had its price target trimmed by Truist Financial from $75.00 to $72.00 in a report issued on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also recently issued research reports about the stock. Evercore ISI upped their target price on shares of CarMax from $78.00 to $85.00 and gave the company an in-line rating in a research note on Tuesday, March 26th. Wedbush increased their target price on CarMax from $90.00 to $100.00 and gave the stock an outperform rating in a report on Tuesday, April 2nd. Needham & Company LLC dropped their target price on shares of CarMax from $99.00 to $91.00 and set a buy rating for the company in a research report on Friday. Oppenheimer reissued an outperform rating and set a $105.00 price target on shares of CarMax in a report on Tuesday, April 9th. Finally, Bank of America upped their price objective on shares of CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $78.25.

CarMax Trading Down 2.7 %

Shares of KMX stock opened at $69.46 on Friday. The firm’s fifty day simple moving average is $78.77 and its 200 day simple moving average is $72.10. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96. The firm has a market capitalization of $10.97 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts predict that CarMax will post 3.58 EPS for the current year.

Insiders Place Their Bets

In other news, VP Jill A. Livesay sold 14,199 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the transaction, the vice president now directly owns 9,068 shares in the company, valued at approximately $642,830.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Diane L. Cafritz sold 2,730 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $70.54, for a total value of $192,574.20. Following the transaction, the executive vice president now directly owns 5,073 shares in the company, valued at $357,849.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jill A. Livesay sold 14,199 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the completion of the sale, the vice president now directly owns 9,068 shares of the company’s stock, valued at approximately $642,830.52. The disclosure for this sale can be found here. Insiders have sold 38,929 shares of company stock valued at $2,740,901 in the last 90 days. 1.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CarMax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Graybill Wealth Management LTD. raised its stake in CarMax by 1.1% during the first quarter. Graybill Wealth Management LTD. now owns 32,010 shares of the company’s stock worth $2,788,000 after acquiring an additional 346 shares in the last quarter. Brookstone Capital Management lifted its stake in CarMax by 5.3% in the 1st quarter. Brookstone Capital Management now owns 3,467 shares of the company’s stock valued at $302,000 after purchasing an additional 175 shares during the last quarter. First Financial Corp IN grew its stake in shares of CarMax by 127.2% during the first quarter. First Financial Corp IN now owns 1,045 shares of the company’s stock worth $91,000 after buying an additional 585 shares during the last quarter. Triad Investment Management increased its holdings in shares of CarMax by 10.7% during the first quarter. Triad Investment Management now owns 39,637 shares of the company’s stock worth $3,453,000 after buying an additional 3,844 shares in the last quarter. Finally, True North Advisors LLC lifted its stake in shares of CarMax by 32.0% in the 1st quarter. True North Advisors LLC now owns 29,976 shares of the company’s stock valued at $2,611,000 after acquiring an additional 7,267 shares during the last quarter.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.