Evercore ISI Cuts CarMax (NYSE:KMX) Price Target to $68.00

CarMax (NYSE:KMXFree Report) had its price target cut by Evercore ISI from $73.00 to $68.00 in a report released on Thursday, Benzinga reports. They currently have an in-line rating on the stock.

A number of other research analysts have also recently commented on the company. StockNews.com raised CarMax to a sell rating in a research note on Monday, April 22nd. Royal Bank of Canada reiterated an outperform rating and issued a $83.00 price target on shares of CarMax in a report on Monday, April 8th. Needham & Company LLC lowered their price target on CarMax from $99.00 to $91.00 and set a buy rating for the company in a report on Friday, April 12th. JPMorgan Chase & Co. lowered their price target on CarMax from $60.00 to $55.00 and set an underweight rating for the company in a report on Monday, April 15th. Finally, Oppenheimer reiterated an outperform rating and issued a $105.00 price target on shares of CarMax in a report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, CarMax currently has a consensus rating of Hold and a consensus target price of $76.17.

Read Our Latest Stock Analysis on CarMax

CarMax Trading Up 0.4 %

KMX opened at $71.63 on Thursday. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 1.40 and a beta of 1.69. The stock’s 50 day moving average price is $70.25 and its 200-day moving average price is $73.82. CarMax has a one year low of $59.66 and a one year high of $88.22. 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 (NYSE:KMXGet Free Report) last released its earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The business had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. On average, equities analysts forecast that CarMax will post 3.06 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the sale, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.66% of the stock is owned by company insiders.

Institutional Trading of CarMax

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in shares of CarMax by 6.5% in the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock valued at $188,000 after acquiring an additional 131 shares during the period. Czech National Bank increased its position in shares of CarMax by 0.5% in the 4th quarter. Czech National Bank now owns 27,789 shares of the company’s stock valued at $2,133,000 after acquiring an additional 138 shares during the period. Spire Wealth Management increased its position in shares of CarMax by 8.3% in the 4th quarter. Spire Wealth Management now owns 1,908 shares of the company’s stock valued at $146,000 after acquiring an additional 147 shares during the period. Lindbrook Capital LLC grew its position in CarMax by 32.8% during the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after purchasing an additional 155 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in CarMax by 0.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,223 shares of the company’s stock worth $1,782,000 after purchasing an additional 157 shares during the period.

About CarMax

(Get Free Report)

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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