Needham & Company LLC Lowers CarMax (NYSE:KMX) Price Target to $92.00

CarMax (NYSE:KMX - Get Free Report) had its target price lowered by stock analysts at Needham & Company LLC from $101.00 to $92.00 in a report released on Friday, MarketBeat.com reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective would indicate a potential upside of 43.17% from the company's previous close.

A number of other research analysts have also commented on KMX. Evercore ISI dropped their price objective on shares of CarMax from $107.00 to $105.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 11th. Truist Financial boosted their target price on CarMax from $72.00 to $88.00 and gave the company a "hold" rating in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. Wedbush restated an "outperform" rating and issued a $100.00 target price on shares of CarMax in a research note on Tuesday, April 1st. Finally, Royal Bank of Canada increased their price target on shares of CarMax from $92.00 to $99.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $87.73.

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CarMax Stock Performance

KMX traded down $3.47 on Friday, reaching $64.26. The company had a trading volume of 1,576,522 shares, compared to its average volume of 2,081,675. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. CarMax has a 1 year low of $63.23 and a 1 year high of $91.25. The stock has a market capitalization of $9.81 billion, a PE ratio of 21.78, a P/E/G ratio of 1.67 and a beta of 1.58. The stock has a 50-day moving average price of $77.90 and a 200-day moving average price of $79.02.

Insider Buying and Selling

In related news, SVP Tyler Tuite sold 4,869 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were 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. This represents a 95.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.66% of the company's stock.

Institutional Trading of CarMax

Several institutional investors have recently modified their holdings of KMX. Cromwell Holdings LLC raised its stake in CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company's stock valued at $35,000 after purchasing an additional 217 shares during the period. Allworth Financial LP lifted its stake in CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company's stock worth $51,000 after acquiring an additional 249 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in CarMax during the 4th quarter worth about $53,000. ST Germain D J Co. Inc. purchased a new stake in shares of CarMax in the fourth quarter worth approximately $58,000. Finally, Colonial Trust Co SC boosted its holdings in shares of CarMax by 2,310.0% during the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after purchasing an additional 693 shares during the period.

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.