Truist Financial Cuts CarMax (NYSE:KMX) Price Target to $35.00

CarMax (NYSE:KMX) had its price target cut by Truist Financial from $47.00 to $35.00 in a report issued on Friday,Benzinga reports. They currently have a hold rating on the stock.

KMX has been the subject of several other research reports. Zacks Research downgraded shares of CarMax from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 2nd. Needham & Company LLC restated a “hold” rating on shares of CarMax in a research report on Friday. Benchmark cut shares of CarMax from a “buy” rating to a “hold” rating in a report on Thursday. Evercore ISI dropped their price target on CarMax from $52.00 to $35.00 and set an “in-line” rating on the stock in a research report on Thursday. Finally, Stephens downgraded shares of CarMax from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $53.00 to $42.00 in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, CarMax has a consensus rating of “Reduce” and an average price target of $43.83.

CarMax Stock Up 2.5%

Shares of NYSE KMX traded up $0.82 during mid-day trading on Friday, reaching $33.18. The company had a trading volume of 2,524,482 shares, compared to its average volume of 3,564,953. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. The stock’s 50 day moving average is $49.17 and its 200-day moving average is $58.57. CarMax has a twelve month low of $30.26 and a twelve month high of $91.25. The stock has a market capitalization of $4.87 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.39). The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $7.07 billion. CarMax had a return on equity of 8.51% and a net margin of 1.98%.The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. As a group, equities analysts anticipate that CarMax will post 3.23 earnings per share for the current fiscal year.

Institutional Trading of CarMax

Several institutional investors and hedge funds have recently modified their holdings of the stock. Redmond Asset Management LLC increased its stake in shares of CarMax by 0.3% during the first quarter. Redmond Asset Management LLC now owns 50,803 shares of the company’s stock valued at $3,959,000 after buying an additional 152 shares during the period. Maia Wealth LLC lifted its stake in shares of CarMax by 0.6% during the first quarter. Maia Wealth LLC now owns 26,099 shares of the company’s stock worth $2,034,000 after buying an additional 157 shares during the period. Jones Financial Companies Lllp lifted its stake in CarMax by 3.1% during the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after acquiring an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after acquiring an additional 173 shares during the period. Finally, Kaufman Rossin Wealth LLC grew its position in shares of CarMax by 6.2% during the 2nd quarter. Kaufman Rossin Wealth LLC now owns 3,342 shares of the company’s stock valued at $225,000 after acquiring an additional 194 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.