CarMax (NYSE:KMX) Raised to Sell at StockNews.com

CarMax (NYSE:KMX - Get Free Report) was upgraded by research analysts at StockNews.com to a "sell" rating in a report issued on Monday.

Other research analysts have also issued reports about the company. Oppenheimer reiterated an "outperform" rating and set a $105.00 price target on shares of CarMax in a report on Tuesday, April 9th. JPMorgan Chase & Co. cut their target price on shares of CarMax from $60.00 to $55.00 and set an "underweight" rating for the company in a research note on Monday, April 15th. Royal Bank of Canada reissued an "outperform" rating and issued a $83.00 price target on shares of CarMax in a report on Monday, April 8th. Robert W. Baird dropped their price objective on shares of CarMax from $88.00 to $84.00 and set an "outperform" rating on the stock in a report on Friday, April 12th. Finally, Truist Financial reduced their target price on shares of CarMax from $75.00 to $72.00 and set a "hold" rating for the company in a research note on Friday, April 12th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $77.42.

CarMax Stock Performance

KMX traded down $0.46 during trading on Monday, hitting $67.88. The stock had a trading volume of 1,880,410 shares, compared to its average volume of 2,010,521. The firm has a market cap of $10.68 billion, a PE ratio of 22.40, a P/E/G ratio of 1.13 and a beta of 1.61. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The company has a 50 day simple moving average of $78.24 and a 200-day simple moving average of $72.10.

CarMax (NYSE:KMX - Get Free Report) last issued 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). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company's revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts expect that CarMax will post 3.3 EPS for the current year.

Insider Activity at CarMax

In other CarMax news, EVP Diane L. Cafritz sold 22,000 shares of the firm's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the sale, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $355,515.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other CarMax news, EVP Diane L. Cafritz sold 22,000 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the completion of the transaction, the executive vice president now owns 5,073 shares in the company, valued at approximately $355,515.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Diane L. Cafritz sold 2,730 shares of the business's stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $70.54, for a total value of $192,574.20. Following the completion of the sale, the executive vice president now owns 5,073 shares in the company, valued at $357,849.42. The disclosure for this sale can be found here. In the last three months, insiders sold 38,929 shares of company stock worth $2,740,901. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On CarMax

Several hedge funds have recently made changes to their positions in KMX. ProVise Management Group LLC boosted its holdings in CarMax by 31.5% during the third quarter. ProVise Management Group LLC now owns 58,701 shares of the company's stock worth $4,152,000 after purchasing an additional 14,052 shares during the last quarter. Montag A & Associates Inc. raised its holdings in shares of CarMax by 61.6% in the 3rd quarter. Montag A & Associates Inc. now owns 49,985 shares of the company's stock valued at $3,535,000 after purchasing an additional 19,056 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of CarMax by 8.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 235,544 shares of the company's stock valued at $18,076,000 after purchasing an additional 18,914 shares during the period. Corient Private Wealth LLC lifted its stake in CarMax by 6.9% in the 3rd quarter. Corient Private Wealth LLC now owns 934,259 shares of the company's stock valued at $66,080,000 after purchasing an additional 60,604 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in CarMax by 3.1% during the third quarter. Invesco Ltd. now owns 2,938,541 shares of the company's stock worth $207,843,000 after purchasing an additional 88,488 shares during the period.

CarMax Company Profile

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.

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