CarMax (NYSE:KMX) Raised to “Sell” at StockNews.com

StockNews.com upgraded shares of CarMax (NYSE:KMX) to a sell rating in a research report report published on Monday morning.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their price objective on CarMax from $60.00 to $55.00 and set an underweight rating for the company in a report on Monday, April 15th. Mizuho dropped their price target on CarMax from $80.00 to $75.00 and set a neutral rating on the stock in a research note on Friday, April 12th. Truist Financial dropped their price target on CarMax from $75.00 to $72.00 and set a hold rating on the stock in a research note on Friday, April 12th. Wedbush restated an outperform rating and set a $90.00 price target on shares of CarMax in a research note on Tuesday, April 16th. Finally, Evercore ISI dropped their target price on CarMax from $85.00 to $74.00 and set an in-line rating on the stock in a research report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $77.42.

CarMax Stock Up 0.8 %

NYSE:KMX opened at $70.27 on Monday. CarMax has a twelve month low of $59.66 and a twelve month high of $88.22. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The stock has a fifty day simple moving average of $78.13 and a 200-day simple moving average of $72.11. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMX) last released its earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a return on equity of 7.26% and a net margin of 1.81%. The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts anticipate that CarMax will post 3.3 EPS for the current year.

Insider Transactions at CarMax

In related news, EVP Diane L. Cafritz sold 22,000 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.08, for a total value of $1,541,760.00. Following the completion of the transaction, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at approximately $355,515.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $70.89, for a total value of $1,006,567.11. Following the completion of the transaction, the vice president now directly owns 9,068 shares of the company’s stock, valued at approximately $642,830.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Diane L. Cafritz sold 22,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $70.08, for a total value of $1,541,760.00. Following the completion of the transaction, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at $355,515.84. The disclosure for this sale can be found here. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. ProVise Management Group LLC grew its holdings in CarMax by 31.5% in the 3rd quarter. ProVise Management Group LLC now owns 58,701 shares of the company’s stock valued at $4,152,000 after buying an additional 14,052 shares in the last quarter. Montag A & Associates Inc. grew its holdings in CarMax by 61.6% in the 3rd quarter. Montag A & Associates Inc. now owns 49,985 shares of the company’s stock valued at $3,535,000 after buying an additional 19,056 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in CarMax by 8.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 235,544 shares of the company’s stock valued at $18,076,000 after buying an additional 18,914 shares in the last quarter. Corient Private Wealth LLC grew its holdings in CarMax by 6.9% in the 3rd quarter. Corient Private Wealth LLC now owns 934,259 shares of the company’s stock valued at $66,080,000 after buying an additional 60,604 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in CarMax by 3.1% in the 3rd quarter. Invesco Ltd. now owns 2,938,541 shares of the company’s stock valued at $207,843,000 after buying an additional 88,488 shares in the last quarter.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.