CarMax (NYSE:KMX) PT Lowered to $66.00 at Truist Financial

CarMax (NYSE:KMXGet Free Report) had its price objective lowered by equities researchers at Truist Financial from $72.00 to $66.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price target would indicate a potential downside of 7.52% from the company’s previous close.

KMX has been the subject of several other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $83.00 price target on shares of CarMax in a research note on Monday, April 8th. Bank of America lifted their price objective on CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a report on Thursday, February 29th. Mizuho lowered their price objective on CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a report on Tuesday, April 9th. Finally, StockNews.com upgraded CarMax to a “sell” rating in a report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.17.

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CarMax Price Performance

Shares of CarMax stock traded down $0.31 on Tuesday, hitting $71.37. The company’s stock had a trading volume of 74,765 shares, compared to its average volume of 1,932,007. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22. The firm has a fifty day moving average price of $70.65 and a 200-day moving average price of $73.74. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.36 and a beta of 1.69.

CarMax (NYSE:KMXGet Free Report) last announced its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share 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 analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. CarMax’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, sell-side analysts anticipate that CarMax will post 3.1 earnings per share for the current fiscal year.

Insider Transactions at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the transaction, 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 SEC, which is available at the SEC website. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its stake in CarMax by 153.3% during the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after purchasing an additional 207 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of CarMax by 1,081.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after acquiring an additional 400 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in shares of CarMax in the fourth quarter valued at $37,000. MCF Advisors LLC acquired a new stake in shares of CarMax in the fourth quarter valued at $46,000. Finally, Lindbrook Capital LLC raised its stake in shares of CarMax by 32.8% in the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock valued at $48,000 after acquiring an additional 155 shares in the last quarter.

About CarMax

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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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