CarMax (NYSE:KMX) Price Target Cut to $55.00

CarMax (NYSE:KMX - Free Report) had its target price cut by JPMorgan Chase & Co. from $60.00 to $55.00 in a research report report published on Monday morning, Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities analysts have also recently issued reports on KMX. Truist Financial reduced their target price on CarMax from $75.00 to $72.00 and set a hold rating on the stock in a report on Friday. Royal Bank of Canada reiterated an outperform rating and set a $83.00 price objective on shares of CarMax in a report on Monday, April 8th. Evercore ISI cut their price objective on CarMax from $85.00 to $74.00 and set an in-line rating on the stock in a report on Friday. Oppenheimer reiterated an outperform rating and set a $105.00 price objective on shares of CarMax in a report on Tuesday, April 9th. Finally, Needham & Company LLC cut their price objective on CarMax from $99.00 to $91.00 and set a buy rating on the stock in a report on Friday. 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 stock. According to MarketBeat, CarMax currently has a consensus rating of Hold and a consensus target price of $78.25.

CarMax Price Performance

NYSE:KMX traded down $1.95 during trading hours on Monday, reaching $69.46. The company had a trading volume of 3,637,904 shares, compared to its average volume of 1,992,107. The stock has a 50-day moving average of $78.80 and a two-hundred day moving average of $72.10. CarMax has a one year low of $59.66 and a one year high of $88.22. The firm has a market capitalization of $10.97 billion, a PE ratio of 22.97, a PEG ratio of 1.09 and a beta of 1.61. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.13). The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.76 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. CarMax's revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 EPS. Analysts forecast that CarMax will post 3.58 earnings per share for the current year.

Insiders Place Their Bets

In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the business's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the transaction, the vice president now owns 9,068 shares of the company's stock, valued at approximately $642,830.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the business's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the transaction, the vice president now owns 9,068 shares of the company's stock, valued at approximately $642,830.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diane L. Cafritz sold 2,730 shares of the business's stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $70.54, for a total value of $192,574.20. Following the transaction, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $357,849.42. The disclosure for this sale can be found here. Insiders have sold 38,929 shares of company stock valued at $2,740,901 in the last 90 days. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KMX. Allworth Financial LP increased its holdings 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 acquiring an additional 207 shares during the last quarter. CENTRAL TRUST Co increased its holdings in shares of CarMax by 100.0% during the 3rd quarter. CENTRAL TRUST Co now owns 400 shares of the company's stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Ronald Blue Trust Inc. increased its holdings in shares of CarMax by 194.0% during the 3rd quarter. Ronald Blue Trust Inc. now owns 438 shares of the company's stock worth $31,000 after acquiring an additional 289 shares during the last quarter. VitalStone Financial LLC acquired a new position in shares of CarMax during the 1st quarter worth approximately $33,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of CarMax by 1,081.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company's stock worth $34,000 after acquiring an additional 400 shares during 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.