CarMax (NYSE:KMX) Price Target Lowered to $84.00 at Evercore ISI

CarMax (NYSE:KMX - Get Free Report) had its price target cut by equities researchers at Evercore ISI from $85.00 to $84.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Evercore ISI's target price points to a potential upside of 32.30% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. Cfra Research raised shares of CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research note on Thursday, March 27th. Royal Bank of Canada reaffirmed an "underperform" rating on shares of CarMax in a research note on Monday, April 21st. Finally, Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of CarMax in a research note on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CarMax presently has a consensus rating of "Hold" and an average price target of $85.82.

CarMax Stock Up 0.8%

CarMax stock traded up $0.53 during trading hours on Wednesday, hitting $63.49. The stock had a trading volume of 914,900 shares, compared to its average volume of 2,183,759. The stock's 50-day moving average price is $69.08 and its 200-day moving average price is $77.32. CarMax has a 12-month low of $61.34 and a 12-month high of $91.25. The stock has a market capitalization of $9.69 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92.

Insider Transactions at CarMax

In related news, Director Mitchell D. Steenrod purchased 1,300 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average price of $65.49 per share, with a total value of $85,137.00. Following the purchase, the director now owns 33,577 shares of the company's stock, valued at $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company's stock.

Institutional Trading of CarMax

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in CarMax during the fourth quarter worth about $423,187,000. Kovitz Investment Group Partners LLC increased its stake in CarMax by 348.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock worth $539,213,000 after purchasing an additional 5,122,850 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in CarMax by 626.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company's stock worth $70,364,000 after purchasing an additional 778,652 shares during the period. AQR Capital Management LLC increased its stake in CarMax by 82.9% during the fourth quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock worth $114,465,000 after purchasing an additional 634,390 shares during the period. Finally, GAMMA Investing LLC increased its stake in CarMax by 8,675.6% during the first quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock worth $40,193,000 after purchasing an additional 509,952 shares during the period.

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.

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