Robert W. Baird Cuts CarMax (NYSE:KMX) Price Target to $60.00

CarMax (NYSE:KMX) had its target price cut by Robert W. Baird from $90.00 to $60.00 in a research note published on Friday, Marketbeat.com reports. They currently have an outperform rating on the stock.

A number of other research analysts have also issued reports on KMX. Royal Bank Of Canada cut their price target on shares of CarMax from $81.00 to $59.00 and set an “outperform” rating on the stock in a research note on Friday. Stephens cut their price target on shares of CarMax from $81.00 to $74.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Truist Financial upped their price target on shares of CarMax from $72.00 to $74.00 and gave the company a “hold” rating in a research note on Monday, June 23rd. Evercore ISI restated an “in-line” rating and set a $52.00 price target (down previously from $80.00) on shares of CarMax in a research note on Friday. Finally, Wedbush lowered shares of CarMax from an “outperform” rating to a “neutral” rating and cut their price target for the company from $84.00 to $54.00 in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.31.

CarMax Trading Down 1.6%

NYSE KMX opened at $44.86 on Friday. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. The firm has a market cap of $6.73 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The company has a 50 day moving average price of $58.59 and a 200 day moving average price of $64.72. CarMax has a 52 week low of $42.75 and a 52 week high of $91.25.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.39). The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $7.07 billion. CarMax had a return on equity of 8.51% and a net margin of 1.98%.The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 EPS. As a group, sell-side analysts forecast that CarMax will post 3.23 EPS for the current fiscal year.

Insider Activity at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the company’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the sale, the executive vice president directly owned 2,779 shares of the company’s stock, valued at $196,308.56. This represents a 35.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.

Institutional Trading of CarMax

A number of hedge funds have recently added to or reduced their stakes in KMX. Zions Bancorporation National Association UT purchased a new stake in CarMax during the first quarter worth $27,000. CYBER HORNET ETFs LLC purchased a new stake in CarMax during the second quarter worth $28,000. MUFG Securities EMEA plc purchased a new stake in CarMax during the second quarter worth $30,000. Accent Capital Management LLC purchased a new stake in CarMax during the first quarter worth $34,000. Finally, Strengthening Families & Communities LLC boosted its holdings in CarMax by 93.1% during the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock worth $39,000 after buying an additional 256 shares in the last quarter.

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.