CarMax (NYSE:KMX) Lowered to “Market Perform” Rating by William Blair

William Blair cut shares of CarMax (NYSE:KMX) from an outperform rating to a market perform rating in a research note issued to investors on Thursday morning, Marketbeat reports.

KMX has been the subject of a number of other reports. Needham & Company LLC decreased their price objective on CarMax from $92.00 to $60.00 and set a “buy” rating for the company in a report on Friday, September 26th. Mizuho lowered their price objective on CarMax from $78.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Benchmark reduced their target price on CarMax from $75.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. BNP Paribas Exane decreased their target price on shares of CarMax from $52.00 to $35.00 and set an “underperform” rating for the company in a research report on Friday, September 26th. Finally, Truist Financial dropped their price target on shares of CarMax from $74.00 to $47.00 and set a “hold” rating on the stock in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, CarMax has a consensus rating of “Hold” and a consensus target price of $48.67.

CarMax Stock Performance

CarMax stock opened at $30.68 on Thursday. The business has a 50 day moving average of $49.75 and a 200-day moving average of $58.87. The company has a market capitalization of $4.51 billion, a P/E ratio of 9.00, a P/E/G ratio of 0.81 and a beta of 1.26. CarMax has a 1 year low of $30.26 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06.

CarMax (NYSE:KMX) last announced its quarterly earnings results 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 business 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 company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 earnings per share. On average, equities research analysts predict that CarMax will post 3.23 earnings per share for the current year.

Hedge Funds Weigh In On CarMax

Institutional investors have recently made changes to their positions in the stock. Redmond Asset Management LLC increased its position in CarMax by 0.3% in the 1st quarter. Redmond Asset Management LLC now owns 50,803 shares of the company’s stock valued at $3,959,000 after buying an additional 152 shares in the last quarter. Maia Wealth LLC increased its stake in CarMax by 0.6% during the 1st quarter. Maia Wealth LLC now owns 26,099 shares of the company’s stock valued at $2,034,000 after purchasing an additional 157 shares in the last quarter. Jones Financial Companies Lllp increased its stake in CarMax by 3.1% during the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after purchasing an additional 161 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after buying an additional 173 shares in the last quarter. Finally, Kaufman Rossin Wealth LLC boosted its position in shares of CarMax by 6.2% during the second quarter. Kaufman Rossin Wealth LLC now owns 3,342 shares of the company’s stock valued at $225,000 after buying an additional 194 shares during the last quarter.

CarMax Company Profile

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.