CarMax (NYSE:KMX) Price Target Cut to $87.00 by Analysts at Needham & Company LLC

CarMax (NYSE:KMX) had its price target decreased by Needham & Company LLC from $91.00 to $87.00 in a research report released on Monday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

KMX has been the topic of a number of other reports. Bank of America raised their target price on shares of CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a research report on Thursday, February 29th. Royal Bank of Canada reiterated an outperform rating and issued a $83.00 price objective on shares of CarMax in a research report on Monday, April 8th. Robert W. Baird lowered their price objective on shares of CarMax from $88.00 to $84.00 and set an outperform rating on the stock in a research report on Friday, April 12th. Evercore ISI lowered their price objective on shares of CarMax from $73.00 to $68.00 and set an in-line rating on the stock in a research report on Thursday, June 20th. Finally, Wedbush reiterated an outperform rating and issued a $90.00 price objective on shares of CarMax in a research report on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, CarMax currently has a consensus rating of Hold and a consensus target price of $75.50.

CarMax Stock Performance

Shares of KMX opened at $73.18 on Monday. 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 firm has a market cap of $11.52 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.40 and a beta of 1.69. The company’s 50 day simple moving average is $70.32 and its 200-day simple moving average is $73.92. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22.

CarMax (NYSE:KMX) last announced its earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.16 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. As a group, equities analysts predict that CarMax will post 3.06 EPS for the current year.

Insiders Place Their Bets

In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the sale, the executive vice president now directly owns 6,977 shares in the company, valued at approximately $485,110.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its stake in shares of CarMax by 153.3% during the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after buying an additional 207 shares during the last quarter. Creative Financial Designs Inc. ADV raised 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 purchasing an additional 400 shares during the last quarter. Mendota Financial Group LLC acquired a new position in CarMax in the 4th quarter valued at about $37,000. MCF Advisors LLC acquired a new position in CarMax in the 4th quarter valued at about $46,000. Finally, Lindbrook Capital LLC raised its stake in CarMax by 32.8% in the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock valued at $48,000 after purchasing an additional 155 shares during the last quarter.

About CarMax

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.