CarMax (NYSE:KMX) PT Lowered to $76.00 at Evercore ISI

CarMax (NYSE:KMX) had its price objective reduced by Evercore ISI from $79.00 to $76.00 in a research note issued to investors on Thursday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other research firms have also recently commented on KMX. Morgan Stanley reiterated an overweight rating and set a $80.00 price objective on shares of CarMax in a research report on Friday, June 21st. Truist Financial upped their price target on shares of CarMax from $70.00 to $75.00 and gave the company a hold rating in a research report on Monday, September 23rd. Needham & Company LLC raised their price objective on shares of CarMax from $87.00 to $90.00 and gave the stock a buy rating in a report on Friday, September 27th. JPMorgan Chase & Co. upped their target price on shares of CarMax from $55.00 to $65.00 and gave the company an underweight rating in a report on Thursday, September 19th. Finally, BNP Paribas upgraded shares of CarMax to a strong sell rating in a research note on Friday, September 27th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $79.45.

CarMax Trading Down 1.5 %

Shares of NYSE:KMX opened at $73.09 on Thursday. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22. The stock’s fifty day moving average price is $79.16 and its 200-day moving average price is $76.17. The company has a market cap of $11.41 billion, a P/E ratio of 28.55, a PEG ratio of 1.56 and a beta of 1.68. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the previous year, the business earned $0.75 EPS. The business’s revenue was down .9% compared to the same quarter last year. Sell-side analysts expect that CarMax will post 2.99 earnings per share for the current year.

Insider Buying and Selling

In other CarMax news, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $14,465,600.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CarMax news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total value of $777,680.28. Following the completion of the transaction, the chief financial officer now directly owns 20,260 shares in the company, valued at $1,690,899.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $14,465,600.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,012 shares of company stock valued at $14,803,843. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vulcan Value Partners LLC boosted its holdings in shares of CarMax by 299.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after purchasing an additional 1,369,986 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of CarMax by 1,327.3% during the 1st quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after acquiring an additional 951,558 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of CarMax by 3,094.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after acquiring an additional 577,685 shares in the last quarter. Marshall Wace LLP boosted its position in shares of CarMax by 87.6% during the 2nd quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after acquiring an additional 541,967 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in shares of CarMax by 5,711.9% in the fourth quarter. Verition Fund Management LLC now owns 427,176 shares of the company’s stock valued at $32,781,000 after purchasing an additional 419,826 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.