CarMax (NYSE:KMX) Price Target Lowered to $68.00 at Evercore ISI

CarMax (NYSE:KMX) had its price objective trimmed by Evercore ISI from $73.00 to $68.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

A number of other equities research analysts have also issued reports on the company. Robert W. Baird cut their target price on CarMax from $88.00 to $84.00 and set an outperform rating on the stock in a research report on Friday, April 12th. Mizuho dropped their price target on CarMax from $75.00 to $72.00 and set a neutral rating on the stock in a research report on Tuesday. Royal Bank of Canada restated an outperform rating and set a $83.00 price target on shares of CarMax in a research note on Monday, April 8th. StockNews.com upgraded CarMax to a sell rating in a research note on Monday, April 22nd. Finally, Bank of America upped their price target on CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a research note on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $76.17.

CarMax Trading Down 0.2 %

Shares of CarMax stock opened at $71.36 on Thursday. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. The firm has a market cap of $11.23 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.39 and a beta of 1.69. The business has a fifty day simple moving average of $70.26 and a 200-day simple moving average of $73.76. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.76 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. On average, equities analysts forecast that CarMax will post 3.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Diane L. Cafritz sold 15,356 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the transaction, the executive vice president now owns 6,977 shares of the company’s stock, valued at approximately $485,110.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.66% of the stock is owned by insiders.

Hedge Funds Weigh In On CarMax

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in CarMax by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after acquiring an additional 222,132 shares in the last quarter. Norges Bank acquired a new position in CarMax in the 4th quarter valued at approximately $288,278,000. Morningstar Investment Services LLC raised its holdings in CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after acquiring an additional 1,326,840 shares in the last quarter. Cooke & Bieler LP raised its holdings in CarMax by 3.1% in the 4th quarter. Cooke & Bieler LP now owns 2,344,650 shares of the company’s stock valued at $179,928,000 after acquiring an additional 69,409 shares in the last quarter. Finally, First Pacific Advisors LP raised its holdings in CarMax by 0.3% in the 1st quarter. First Pacific Advisors LP now owns 2,339,026 shares of the company’s stock valued at $203,753,000 after acquiring an additional 7,481 shares in the last quarter.

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.