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

CarMax (NYSE:KMX) had its price target reduced by equities researchers at Wedbush from $100.00 to $90.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 32.41% from the company’s current price.

KMX has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their target price on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Truist Financial increased their price objective on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Evercore ISI cut their target price on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday, March 11th. Robert W. Baird decreased their price target on shares of CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada boosted their price objective on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $89.45.

CarMax Stock Up 2.3 %

Shares of KMX stock traded up $1.52 during mid-day trading on Friday, hitting $67.97. The company’s stock had a trading volume of 470,914 shares, compared to its average volume of 2,113,864. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax has a 52-week low of $63.23 and a 52-week high of $91.25. The stock has a market cap of $10.45 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 1.67 and a beta of 1.58. The business has a 50-day moving average price of $78.93 and a 200 day moving average price of $79.20.

Insider Buying and Selling at CarMax

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of CarMax stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total transaction of $407,150.00. Following the sale, the chief financial officer now owns 20,260 shares in the company, valued at approximately $1,649,771.80. The trade was a 19.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,878 shares of company stock valued at $1,872,699 over the last ninety days. 1.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in shares of CarMax by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after purchasing an additional 282,519 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in CarMax by 348.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock valued at $539,213,000 after buying an additional 5,122,850 shares in the last quarter. Norges Bank bought a new stake in CarMax in the 4th quarter worth approximately $423,187,000. Janus Henderson Group PLC raised its holdings in shares of CarMax by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company’s stock worth $381,978,000 after acquiring an additional 29,715 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of CarMax by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company’s stock valued at $302,564,000 after acquiring an additional 47,058 shares during the last quarter.

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.