CarMax (NYSE:KMX) Stock Rating Lowered by Wall Street Zen

CarMax (NYSE:KMX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also commented on the stock. Royal Bank Of Canada increased their price objective on shares of CarMax from $34.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, December 19th. Barclays upped their target price on shares of CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. decreased their price target on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Friday, December 19th. Wedbush lowered their price target on shares of CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Finally, Morgan Stanley set a $35.00 price objective on shares of CarMax in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, CarMax currently has a consensus rating of “Reduce” and a consensus price target of $39.21.

CarMax Price Performance

CarMax stock opened at $41.86 on Friday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99. The firm has a market cap of $5.94 billion, a P/E ratio of 13.82, a P/E/G ratio of 0.99 and a beta of 1.35. The business’s fifty day moving average is $44.39 and its two-hundred day moving average is $44.47. CarMax has a 52 week low of $30.26 and a 52 week high of $82.79.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The company had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period last year, the company posted $0.81 earnings per share. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. Equities research analysts forecast that CarMax will post 3.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CarMax

Several institutional investors have recently modified their holdings of the business. World Investment Advisors lifted its holdings in CarMax by 1.5% in the fourth quarter. World Investment Advisors now owns 111,013 shares of the company’s stock valued at $4,290,000 after buying an additional 1,643 shares during the period. Midway Capital Research & Management acquired a new stake in CarMax during the 4th quarter worth $1,625,000. Framtiden Holdings Management Co LLC bought a new stake in shares of CarMax during the 4th quarter valued at $20,866,000. Van Diest Capital LLC bought a new stake in shares of CarMax during the 4th quarter valued at $226,000. Finally, Alberta Investment Management Corp acquired a new position in shares of CarMax in the 4th quarter valued at $4,326,000.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.