Robert W. Baird Trims CarMax (NYSE:KMX) Target Price to $84.00

CarMax (NYSE:KMX) had its price target trimmed by Robert W. Baird from $88.00 to $84.00 in a report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the company. Oppenheimer restated an outperform rating and set a $105.00 price objective on shares of CarMax in a research note on Tuesday, April 9th. Mizuho decreased their price objective on CarMax from $80.00 to $75.00 and set a neutral rating for the company in a report on Friday. Truist Financial raised their target price on CarMax from $72.00 to $75.00 and gave the stock a hold rating in a research note on Friday, December 22nd. Royal Bank of Canada reiterated an outperform rating and set a $83.00 price target on shares of CarMax in a research report on Monday, April 8th. Finally, Bank of America boosted their target price on CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a research report on Thursday, February 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $78.25.

CarMax Stock Performance

NYSE:KMX opened at $69.46 on Friday. The company has a market capitalization of $10.97 billion, a PE ratio of 22.92, a P/E/G ratio of 1.09 and a beta of 1.61. The company has a 50 day simple moving average of $78.77 and a two-hundred day simple moving average of $72.10. 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 fifty-two week low of $59.66 and a fifty-two week high of $88.22.

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

Insider Activity

In related news, VP Jill A. Livesay sold 14,199 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $70.89, for a total value of $1,006,567.11. Following the sale, the vice president now directly owns 9,068 shares of the company’s stock, valued at $642,830.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Diane L. Cafritz sold 22,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at $355,515.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jill A. Livesay sold 14,199 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the transaction, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,929 shares of company stock valued at $2,740,901. Company insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in CarMax by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after acquiring an additional 222,132 shares during the last quarter. BlackRock Inc. grew its position in shares of CarMax by 1.8% during the first quarter. BlackRock Inc. now owns 10,633,886 shares of the company’s stock worth $683,546,000 after purchasing an additional 184,104 shares in the last quarter. Akre Capital Management LLC grew its position in shares of CarMax by 0.7% during the first quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock worth $708,159,000 after purchasing an additional 49,780 shares in the last quarter. State Street Corp grew its position in shares of CarMax by 3.2% during the second quarter. State Street Corp now owns 6,220,212 shares of the company’s stock worth $520,632,000 after purchasing an additional 193,111 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in CarMax by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company’s stock valued at $392,458,000 after buying an additional 210,440 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.