CarMax (NYSE:KMX) Trading Down 5.2%

CarMax, Inc. (NYSE:KMX - Get Free Report)'s stock price was down 5.2% during trading on Tuesday . The stock traded as low as $76.25 and last traded at $76.41. Approximately 603,782 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,887,489 shares. The stock had previously closed at $80.63.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of CarMax from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, June 24th. Truist Financial raised their target price on CarMax from $66.00 to $70.00 and gave the company a "hold" rating in a research note on Monday, June 24th. StockNews.com raised CarMax to a "sell" rating in a research note on Friday, July 26th. Needham & Company LLC lowered their price objective on CarMax from $91.00 to $87.00 and set a "buy" rating for the company in a research report on Monday, June 24th. Finally, Wedbush reissued an "outperform" rating and set a $95.00 price target on shares of CarMax in a research report on Friday, August 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, CarMax has a consensus rating of "Hold" and a consensus target price of $76.25.

CarMax Trading Down 3.6 %

The firm has a market capitalization of $12.13 billion, a PE ratio of 30.36, a P/E/G ratio of 1.62 and a beta of 1.69. The firm has a 50 day simple moving average of $79.88 and a 200 day simple moving average of $76.51. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings data on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same period last year, the company earned $1.16 EPS. CarMax's revenue for the quarter was down 7.5% on a year-over-year basis. Equities analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mohammad Shamim sold 25,000 shares of the firm's stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at approximately $965,567.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Mohammad Shamim sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the transaction, the executive vice president now owns 11,738 shares of the company's stock, valued at $965,567.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Enrique N. Mayor-Mora sold 9,318 shares of CarMax stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $83.46, for a total transaction of $777,680.28. Following the transaction, the chief financial officer now owns 20,260 shares in the company, valued at approximately $1,690,899.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,243 shares of company stock valued at $14,893,042. Company insiders own 1.66% of the company's stock.

Institutional Trading of CarMax

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of CarMax by 16.4% during the 4th quarter. BNP Paribas Financial Markets now owns 127,402 shares of the company's stock valued at $9,777,000 after buying an additional 17,973 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of CarMax by 29.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company's stock worth $14,573,000 after purchasing an additional 37,660 shares during the period. Fairview Capital Investment Management LLC increased its stake in shares of CarMax by 7.0% in the fourth quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company's stock worth $19,302,000 after purchasing an additional 16,438 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of CarMax in the fourth quarter worth $5,637,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CarMax by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 991,111 shares of the company's stock valued at $76,058,000 after purchasing an additional 30,107 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.