Mizuho Cuts CarMax (NYSE:KMX) Price Target to $75.00

CarMax (NYSE:KMX) had its target price trimmed by Mizuho from $80.00 to $75.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also recently commented on the stock. Royal Bank of Canada reissued an outperform rating and set a $83.00 price target on shares of CarMax in a research note on Monday, April 8th. Oppenheimer reissued an outperform rating and set a $105.00 price target on shares of CarMax in a research note on Tuesday, April 9th. Wedbush increased their price objective on shares of CarMax from $90.00 to $100.00 and gave the company an outperform rating in a report on Tuesday, April 2nd. Bank of America increased their price objective on shares of CarMax from $44.00 to $50.00 and gave the company an underperform rating in a report on Thursday, February 29th. Finally, Evercore ISI increased their price objective on shares of CarMax from $78.00 to $85.00 and gave the company an in-line rating in a report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $78.25.

CarMax Price Performance

Shares of CarMax stock opened at $69.46 on Friday. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 1.09 and a beta of 1.61. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22. The firm’s 50-day moving average price is $78.77 and its two-hundred day moving average price is $72.10.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period last year, the company earned $0.44 earnings per share. CarMax’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities analysts predict that CarMax will post 3.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the sale, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Jill A. Livesay sold 14,199 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the sale, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Diane L. Cafritz sold 22,000 shares of the firm’s stock in a transaction 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 in the company, valued at $355,515.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,929 shares of company stock worth $2,740,901. Company insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KMX. Fairfield Bush & CO. bought a new position in CarMax in the first quarter valued at $106,000. American Century Companies Inc. grew its position in CarMax by 11.8% in the first quarter. American Century Companies Inc. now owns 23,475 shares of the company’s stock valued at $2,264,000 after purchasing an additional 2,483 shares in the last quarter. Panagora Asset Management Inc. grew its position in CarMax by 80.1% in the first quarter. Panagora Asset Management Inc. now owns 16,980 shares of the company’s stock valued at $1,638,000 after purchasing an additional 7,550 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in CarMax by 6.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,633 shares of the company’s stock valued at $2,087,000 after purchasing an additional 1,285 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in CarMax by 1.2% in the first quarter. Yousif Capital Management LLC now owns 26,032 shares of the company’s stock valued at $2,512,000 after purchasing an additional 299 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.