Evercore ISI Issues Pessimistic Forecast for CarMax (NYSE:KMX) Stock Price

CarMax (NYSE:KMX) had its price target decreased by equities researchers at Evercore ISI from $107.00 to $105.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target suggests a potential upside of 46.56% from the company’s previous close.

A number of other equities research analysts have also commented on KMX. Mizuho increased their price target on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Needham & Company LLC boosted their price objective on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Royal Bank of Canada lifted their price objective 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 shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.45.

CarMax Stock Performance

NYSE KMX traded down $2.36 on Tuesday, reaching $71.65. The stock had a trading volume of 634,354 shares, compared to its average volume of 1,867,689. The firm has a fifty day moving average of $82.58 and a two-hundred day moving average of $80.29. The company has a market cap of $11.02 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. CarMax has a 1-year low of $65.83 and a 1-year high of $91.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.19. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. CarMax’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that CarMax will post 3.23 EPS for the current year.

Insider Buying and Selling at CarMax

In other CarMax news, SVP Jon G. Daniels sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $85.30, for a total transaction of $853,000.00. Following the completion of the transaction, the senior vice president now owns 995 shares in the company, valued at $84,873.50. The trade was a 90.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Nash sold 120,513 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.24, for a total value of $10,031,502.12. Following the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $15,123,292.92. This represents a 39.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 264,467 shares of company stock valued at $21,915,445 over the last ninety days. 1.66% of the stock is currently owned by company insiders.

Institutional Trading of CarMax

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in CarMax during the 4th quarter worth $423,187,000. Kovitz Investment Group Partners LLC raised its holdings in shares of 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 acquiring an additional 5,122,850 shares in the last quarter. FMR LLC lifted its position in shares of CarMax by 2,883.1% in the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after purchasing an additional 1,713,379 shares during the period. Holocene Advisors LP grew its position in shares of CarMax by 740.2% in the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock worth $73,274,000 after buying an additional 834,232 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in CarMax by 82.9% during the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company’s stock worth $114,465,000 after acquiring an additional 634,390 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.