CarMax (NYSE:KMX) Price Target Lowered to $105.00 at Evercore ISI

CarMax (NYSE:KMX - Get Free Report) had its price target reduced by Evercore ISI from $107.00 to $105.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Evercore ISI's target price would suggest a potential upside of 44.72% from the company's current price.

A number of other research firms have also commented on KMX. Mizuho raised their price target on CarMax from $72.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, December 20th. Stephens started coverage on CarMax in a research note on Thursday, December 5th. They issued an "equal weight" rating and a $86.00 target price for the company. StockNews.com upgraded CarMax from a "sell" rating to a "hold" rating in a research report on Friday, December 20th. Needham & Company LLC raised their price objective on shares of CarMax from $98.00 to $101.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CarMax from $70.00 to $72.00 and gave the company an "underweight" rating in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $90.45.

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CarMax Stock Performance

CarMax stock traded down $0.22 during midday trading on Tuesday, reaching $72.55. The stock had a trading volume of 2,211,924 shares, compared to its average volume of 1,880,150. The firm has a market capitalization of $11.16 billion, a PE ratio of 24.59, a P/E/G ratio of 1.67 and a beta of 1.76. CarMax has a 12 month low of $65.83 and a 12 month high of $91.25. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The firm's 50-day moving average price is $82.22 and its 200 day moving average price is $80.15.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.19. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, research analysts predict that CarMax will post 3.23 earnings per share for the current fiscal year.

Insider Transactions at CarMax

In other CarMax news, CEO William D. Nash sold 120,513 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the sale, the chief executive officer now owns 181,683 shares in the company, valued at $15,123,292.92. This trade represents a 39.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the sale, the senior vice president now owns 227 shares of the company's stock, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,467 shares of company stock valued at $21,915,445. Insiders own 1.66% of the company's stock.

Institutional Investors Weigh In On CarMax

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lakewood Asset Management LLC increased its stake in CarMax by 0.6% in the 4th quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company's stock worth $1,778,000 after purchasing an additional 135 shares during the period. Arete Wealth Advisors LLC increased its stake in shares of CarMax by 4.3% in the third quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company's stock worth $266,000 after buying an additional 141 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in CarMax by 3.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,682 shares of the company's stock valued at $383,000 after buying an additional 141 shares during the last quarter. Timber Creek Capital Management LLC boosted its position in CarMax by 0.3% during the 4th quarter. Timber Creek Capital Management LLC now owns 57,601 shares of the company's stock valued at $4,709,000 after buying an additional 145 shares during the period. Finally, Chemistry Wealth Management LLC boosted its position in CarMax by 1.4% during the 4th quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company's stock valued at $999,000 after buying an additional 164 shares during the period.

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.