Robert W. Baird Trims CarMax (NYSE:KMX) Target Price to $84.00

CarMax (NYSE:KMX) had its target price reduced by Robert W. Baird from $88.00 to $84.00 in a research note published on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently commented on KMX. Royal Bank of Canada reissued an outperform rating and issued a $83.00 price target on shares of CarMax in a report on Monday, April 8th. Mizuho reduced their price objective on CarMax from $80.00 to $75.00 and set a neutral rating on the stock in a research note on Friday. Bank of America lifted their price objective on CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a research note on Thursday, February 29th. Evercore ISI lifted their price objective on CarMax from $78.00 to $85.00 and gave the stock an in-line rating in a research note on Tuesday, March 26th. Finally, Truist Financial lifted their price objective on CarMax from $72.00 to $75.00 and gave the stock a hold rating in a research note on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $78.25.

CarMax Stock Down 2.7 %

NYSE KMX opened at $69.46 on Friday. The stock’s 50 day moving average is $78.77 and its 200 day moving average is $72.10. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The stock has a market cap of $10.97 billion, a PE ratio of 22.92, a P/E/G ratio of 1.09 and a beta of 1.61.

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

Insider Buying and Selling at CarMax

In other CarMax news, EVP Diane L. Cafritz sold 22,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.08, for a total value of $1,541,760.00. Following the transaction, the executive vice president now owns 5,073 shares of the company’s stock, valued at approximately $355,515.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CarMax news, EVP Diane L. Cafritz sold 22,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.08, for a total value of $1,541,760.00. Following the transaction, the executive vice president now owns 5,073 shares of the company’s stock, valued at approximately $355,515.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diane L. Cafritz sold 2,730 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total value of $192,574.20. Following the completion of the sale, the executive vice president now owns 5,073 shares of the company’s stock, valued at $357,849.42. 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 quarter. 1.66% of the stock is owned by insiders.

Institutional Investors Weigh In On CarMax

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of CarMax by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after purchasing an additional 222,132 shares during the last quarter. BlackRock Inc. raised its stake in CarMax by 1.8% in the first quarter. BlackRock Inc. now owns 10,633,886 shares of the company’s stock valued at $683,546,000 after buying an additional 184,104 shares during the last quarter. Akre Capital Management LLC raised its stake in CarMax by 0.7% in the first quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock valued at $708,159,000 after buying an additional 49,780 shares during the last quarter. State Street Corp raised its stake in CarMax by 3.2% in the second quarter. State Street Corp now owns 6,220,212 shares of the company’s stock valued at $520,632,000 after buying an additional 193,111 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in CarMax by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company’s stock valued at $392,458,000 after buying an additional 210,440 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.