Evercore ISI Cuts CarMax (NYSE:KMX) Price Target to $105.00

CarMax (NYSE:KMX) had its price target cut by Evercore ISI from $107.00 to $105.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Royal Bank of Canada upped their price target on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Stephens assumed coverage on shares of CarMax in a research report on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price objective on the stock. Needham & Company LLC raised their price target on shares of CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Truist Financial raised their price target on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CarMax has a consensus rating of “Hold” and a consensus price target of $90.45.

CarMax Trading Down 4.6 %

Shares of KMX stock opened at $69.18 on Tuesday. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The stock has a market cap of $10.64 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The stock has a 50 day simple moving average of $82.22 and a 200 day simple moving average of $80.15. CarMax has a 1 year low of $65.83 and a 1 year high of $91.25.

CarMax (NYSE:KMX) last released its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.19. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts predict that CarMax will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP James Lyski sold 57,986 shares of CarMax stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $81.35, for a total transaction of $4,717,161.10. Following the completion of the sale, the executive vice president now directly owns 22,803 shares of the company’s stock, valued at approximately $1,855,024.05. The trade was a 71.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jill A. Livesay sold 13,009 shares of CarMax stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the sale, the vice president now directly owns 9,448 shares of the company’s stock, valued at $765,288. This represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,467 shares of company stock valued at $21,915,445. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

A number of large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in shares of CarMax by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock valued at $702,425,000 after acquiring an additional 282,519 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in CarMax by 348.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock worth $539,213,000 after acquiring an additional 5,122,850 shares in the last quarter. State Street Corp lifted its stake in shares of CarMax by 0.6% in the third quarter. State Street Corp now owns 6,193,174 shares of the company’s stock worth $479,228,000 after buying an additional 36,959 shares in the last quarter. Norges Bank bought a new position in shares of CarMax in the fourth quarter worth approximately $423,187,000. Finally, Janus Henderson Group PLC lifted its stake in shares of CarMax by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company’s stock worth $381,978,000 after buying an additional 29,715 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.