CarMax (NYSE:KMX) Lowered to “Hold” Rating by Seaport Res Ptn

CarMax (NYSE:KMX) was downgraded by Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a report released on Sunday,Zacks.com reports. Seaport Res Ptn also issued estimates for CarMax’s FY2027 earnings at $3.91 EPS.

A number of other equities analysts have also recently weighed in on the company. Wedbush cut CarMax from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $84.00 to $54.00 in a report on Thursday, September 25th. Needham & Company LLC reduced their price target on CarMax from $92.00 to $60.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird reduced their price target on CarMax from $90.00 to $60.00 and set an “outperform” rating for the company in a report on Friday. Mizuho reduced their price target on CarMax from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. reduced their price target on CarMax from $65.00 to $50.00 and set a “neutral” rating for the company in a report on Friday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.15.

CarMax Stock Performance

Shares of KMX stock opened at $45.25 on Friday. The stock has a market cap of $6.79 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The business has a 50-day simple moving average of $58.27 and a 200-day simple moving average of $64.55. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. CarMax has a 52-week low of $42.75 and a 52-week high of $91.25.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.39). The company had revenue of $6.59 billion during the quarter, compared to analyst estimates of $7.07 billion. CarMax had a net margin of 1.98% and a return on equity of 8.51%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. On average, equities analysts expect that CarMax will post 3.23 EPS for the current year.

Insider Activity at CarMax

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

Institutional Investors Weigh In On CarMax

A number of large investors have recently made changes to their positions in KMX. Zions Bancorporation National Association UT purchased a new stake in shares of CarMax in the first quarter valued at approximately $27,000. CYBER HORNET ETFs LLC purchased a new stake in shares of CarMax in the second quarter valued at approximately $28,000. MUFG Securities EMEA plc purchased a new stake in shares of CarMax in the second quarter valued at approximately $30,000. Accent Capital Management LLC purchased a new stake in shares of CarMax in the first quarter valued at approximately $34,000. Finally, Strengthening Families & Communities LLC grew its position in shares of CarMax by 93.1% in the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after purchasing 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.