Wedbush Cuts CarMax (NYSE:KMX) Price Target to $90.00

CarMax (NYSE:KMX - Free Report) had its price objective trimmed by Wedbush from $100.00 to $90.00 in a research note issued to investors on Friday morning, Marketbeat reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also commented on the stock. Needham & Company LLC reduced their price target on shares of CarMax from $101.00 to $92.00 and set a "buy" rating for the company in a report on Friday, April 11th. Stephens raised shares of CarMax from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Royal Bank of Canada upped their price target on CarMax from $92.00 to $99.00 and gave the stock an "overweight" rating in a research report on Thursday, December 19th. StockNews.com upgraded CarMax from a "sell" rating to a "hold" rating in a research note on Friday, December 20th. Finally, Mizuho increased their price target on CarMax from $72.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, December 20th. Three analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $87.73.

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CarMax Trading Down 5.1 %

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

Insider Transactions at CarMax

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.66% of the company's stock.

Institutional Investors Weigh In On CarMax

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in CarMax in the fourth quarter valued at approximately $423,187,000. Kovitz Investment Group Partners LLC increased its stake in CarMax by 348.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock valued at $539,213,000 after purchasing an additional 5,122,850 shares during the period. AQR Capital Management LLC raised its holdings in shares of CarMax by 82.9% in the fourth quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock valued at $114,465,000 after buying an additional 634,390 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of CarMax by 8,675.6% during the first quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock worth $40,193,000 after buying an additional 509,952 shares during the period. Finally, ThornTree Capital Partners LP acquired a new position in CarMax in the 4th quarter valued at about $35,612,000.

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.