CarMax (NYSE:KMX) Hits New 12-Month Low - Time to Sell?

CarMax, Inc. (NYSE:KMX - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The company traded as low as $61.34 and last traded at $61.77, with a volume of 79942 shares traded. The stock had previously closed at $63.22.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KMX shares. Evercore ISI decreased their price target on CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 11th. Stephens raised CarMax from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. Wedbush restated an "outperform" rating and issued a $90.00 price target on shares of CarMax in a research note on Monday. Robert W. Baird reduced their price objective on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, Needham & Company LLC decreased their target price on shares of CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CarMax presently has an average rating of "Hold" and an average target price of $87.73.

CarMax Price Performance

The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The stock's fifty day moving average price is $69.59 and its 200-day moving average price is $77.58. The firm has a market cap of $9.43 billion, a PE ratio of 20.93, a P/E/G ratio of 1.67 and a beta of 1.45.

Insider Buying and Selling

In related news, Director Mitchell D. Steenrod purchased 1,300 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the acquisition, the director now owns 33,577 shares in the company, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarMax

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its stake in shares of CarMax by 0.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 30,746 shares of the company's stock worth $2,514,000 after acquiring an additional 238 shares during the last quarter. Merit Financial Group LLC acquired a new position in CarMax during the 4th quarter worth $600,000. Ballentine Partners LLC acquired a new stake in CarMax during the 4th quarter worth $217,000. Dakota Wealth Management boosted its position in shares of CarMax by 1.5% during the fourth quarter. Dakota Wealth Management now owns 14,720 shares of the company's stock worth $1,204,000 after purchasing an additional 215 shares in the last quarter. Finally, True North Advisors LLC boosted its stake in CarMax by 0.5% in the 4th quarter. True North Advisors LLC now owns 48,662 shares of the company's stock worth $3,979,000 after purchasing an additional 225 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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