CarMax (NYSE:KMX) Price Target Cut to $55.00

CarMax (NYSE:KMX) had its target price dropped by research analysts at JPMorgan Chase & Co. from $60.00 to $55.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 21.21% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC dropped their price target on CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Mizuho dropped their price target on CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Oppenheimer restated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research report on Tuesday, April 9th. Royal Bank of Canada restated an “outperform” rating and issued a $83.00 price target on shares of CarMax in a research report on Monday, April 8th. Finally, Wedbush boosted their price target on CarMax from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Three 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.42.

CarMax Stock Up 0.5 %

KMX opened at $69.81 on Monday. The business’s 50-day simple moving average is $78.73 and its 200-day simple moving average is $72.10. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26. CarMax has a one year low of $59.66 and a one year high of $88.22. The stock has a market capitalization of $11.02 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61.

CarMax (NYSE:KMX) last posted its 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). The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. Analysts anticipate that CarMax will post 3.58 EPS for the current year.

Insider Transactions at CarMax

In other news, EVP Diane L. Cafritz sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the sale, 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 available through this hyperlink. In other news, EVP Diane L. Cafritz sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the sale, 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 available through this hyperlink. Also, EVP Diane L. Cafritz sold 2,730 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $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 currently owned by corporate insiders.

Institutional Investors Weigh In On CarMax

Institutional investors and hedge funds have recently bought and sold shares of the stock. VitalStone Financial LLC purchased a new stake in CarMax in the 1st quarter valued at approximately $33,000. Allworth Financial LP lifted its stake in CarMax by 153.3% in the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after buying an additional 207 shares in the last quarter. CENTRAL TRUST Co lifted its stake in CarMax by 100.0% in the 3rd quarter. CENTRAL TRUST Co now owns 400 shares of the company’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in CarMax by 1,081.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after buying an additional 400 shares in the last quarter. Finally, Ronald Blue Trust Inc. lifted its stake in CarMax by 194.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 438 shares of the company’s stock valued at $31,000 after buying an additional 289 shares in 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.