CarMax, Inc. (NYSE:KMX – Get Rating) shares hit a new 52-week low during mid-day trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $100.00 to $95.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. CarMax traded as low as $84.20 and last traded at $89.22, with a volume of 9189 shares trading hands. The stock had previously closed at $88.88.
KMX has been the topic of a number of other research reports. Bank of America downgraded CarMax from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $146.00 to $100.00 in a research note on Friday. Morgan Stanley dropped their target price on CarMax from $140.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Royal Bank of Canada boosted their price objective on CarMax from $104.00 to $108.00 and gave the company an “outperform” rating in a report on Monday, June 27th. Finally, Wedbush boosted their price objective on CarMax from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, June 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $118.56.
Insider Transactions at CarMax
In related news, EVP Diane L. Cafritz sold 15,555 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $94.75, for a total transaction of $1,473,836.25. Following the transaction, the executive vice president now directly owns 4,988 shares of the company’s stock, valued at approximately $472,613. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Diane L. Cafritz sold 18,092 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $91.06, for a total transaction of $1,647,457.52. Following the transaction, the executive vice president now directly owns 4,988 shares of the company’s stock, valued at approximately $454,207.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Diane L. Cafritz sold 15,555 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $94.75, for a total value of $1,473,836.25. Following the transaction, the executive vice president now directly owns 4,988 shares in the company, valued at $472,613. The disclosure for this sale can be found here. In the last three months, insiders sold 37,103 shares of company stock valued at $3,445,847. Corporate insiders own 1.65% of the company’s stock.
Institutional Trading of CarMax
Several large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its stake in shares of CarMax by 112.7% in the fourth quarter. First Horizon Advisors Inc. now owns 653 shares of the company’s stock worth $84,000 after buying an additional 346 shares during the last quarter. Glenview Trust Co purchased a new stake in shares of CarMax in the fourth quarter worth about $639,000. Rafferty Asset Management LLC boosted its stake in shares of CarMax by 3.2% in the fourth quarter. Rafferty Asset Management LLC now owns 8,147 shares of the company’s stock worth $1,061,000 after buying an additional 251 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in shares of CarMax in the fourth quarter worth about $1,321,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of CarMax in the fourth quarter worth about $327,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.
CarMax Stock Up 1.1 %
The company has a quick ratio of 0.63, a current ratio of 2.72 and a debt-to-equity ratio of 3.29. The stock has a market cap of $14.30 billion, a PE ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 1.40. The business has a 50 day moving average price of $94.37 and a 200 day moving average price of $95.75.
CarMax (NYSE:KMX – Get Rating) last issued its quarterly earnings results on Friday, June 24th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.05. The company had revenue of $9.31 billion for the quarter, compared to the consensus estimate of $9.38 billion. CarMax had a return on equity of 18.40% and a net margin of 2.88%. During the same quarter in the prior year, the business posted $2.63 earnings per share. Equities research analysts expect that CarMax, Inc. will post 5.72 EPS for the current fiscal year.
CarMax Company Profile
CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through two segments, CarMax Sales Operations and CarMax Auto Finance. It 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.