Posted by Defense World Staff on Jun 7th, 2024
CarMax (NYSE:KMX – Free Report) had its price target trimmed by Evercore ISI from $72.00 to $68.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an in-line rating on the stock.
Several other equities research analysts have also recently issued reports on the company. Mizuho lowered their price objective on CarMax from $80.00 to $75.00 and set a neutral rating on the stock in a report on Friday, April 12th. Bank of America lifted their target price on shares of CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a research note on Thursday, February 29th. Wedbush reiterated an outperform rating and issued a $90.00 target price on shares of CarMax in a research report on Thursday, May 16th. Oppenheimer restated an outperform rating and set a $105.00 price target on shares of CarMax in a research report on Tuesday, April 9th. Finally, Needham & Company LLC cut their price objective on shares of CarMax from $99.00 to $91.00 and set a buy rating for the company in a report on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $76.92.
Check Out Our Latest Stock Report on CarMax
CarMax Trading Down 3.1 %
Shares of KMX stock opened at $70.07 on Thursday. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.38 and a beta of 1.69. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.26 and a quick ratio of 0.67. The stock has a 50 day simple moving average of $72.59 and a 200-day simple moving average of $73.33.
CarMax (NYSE:KMX – Get Free Report) last posted its quarterly earnings data on Thursday, April 11th. The company reported $0.32 earnings per share 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 company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that CarMax will post 3.12 EPS for the current fiscal year.
Insider Buying and Selling at CarMax
In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of CarMax stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the sale, the executive vice president now owns 6,977 shares in the company, valued at $485,110.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.66% of the company’s stock.
Institutional Investors Weigh In On CarMax
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in shares of CarMax by 30.6% in the 3rd quarter. Victory Capital Management Inc. now owns 32,183 shares of the company’s stock valued at $2,276,000 after buying an additional 7,532 shares during the period. Amalgamated Bank raised its holdings in shares of CarMax by 7.8% in the 3rd quarter. Amalgamated Bank now owns 43,736 shares of the company’s stock valued at $3,093,000 after buying an additional 3,175 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of CarMax by 4.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 30,109 shares of the company’s stock valued at $2,130,000 after buying an additional 1,189 shares during the period. D.A. Davidson & CO. raised its holdings in shares of CarMax by 3.9% in the 3rd quarter. D.A. Davidson & CO. now owns 11,450 shares of the company’s stock valued at $810,000 after buying an additional 430 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CarMax by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 961,004 shares of the company’s stock valued at $67,972,000 after buying an additional 20,644 shares during the period.
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.
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