CarMax (NYSE:KMX) Rating Lowered to Sell at Wall Street Zen

CarMax (NYSE:KMX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

KMX has been the subject of a number of other research reports. Zacks Research upgraded shares of CarMax from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Wedbush lowered their target price on shares of CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. Stephens boosted their target price on shares of CarMax from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 2nd. JPMorgan Chase & Co. boosted their price target on shares of CarMax from $28.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. Finally, Robert W. Baird boosted their price target on shares of CarMax from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, CarMax presently has a consensus rating of “Reduce” and a consensus price target of $41.21.

CarMax Stock Performance

Shares of KMX stock opened at $40.90 on Friday. The company has a current ratio of 2.20, a quick ratio of 0.49 and a debt-to-equity ratio of 2.93. The firm has a fifty day moving average price of $42.64 and a 200 day moving average price of $41.88. The company has a market cap of $5.80 billion, a P/E ratio of 25.56, a PEG ratio of 1.13 and a beta of 1.30. CarMax has a 12 month low of $30.26 and a 12 month high of $71.99.

CarMax (NYSE:KMX) last issued its earnings results on Tuesday, April 14th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. The firm had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.65 billion. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Sell-side analysts predict that CarMax will post 3.23 earnings per share for the current fiscal year.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Krilogy Financial LLC increased its position in shares of CarMax by 13.6% during the first quarter. Krilogy Financial LLC now owns 21,202 shares of the company’s stock worth $858,000 after purchasing an additional 2,533 shares in the last quarter. Kirr Marbach & Co. LLC IN increased its position in shares of CarMax by 12.4% during the first quarter. Kirr Marbach & Co. LLC IN now owns 125,479 shares of the company’s stock worth $5,217,000 after purchasing an additional 13,820 shares in the last quarter. Evolve Private Wealth LLC increased its position in shares of CarMax by 6.4% during the first quarter. Evolve Private Wealth LLC now owns 19,678 shares of the company’s stock worth $818,000 after purchasing an additional 1,188 shares in the last quarter. World Investment Advisors increased its position in shares of CarMax by 1.5% during the fourth quarter. World Investment Advisors now owns 111,013 shares of the company’s stock worth $4,290,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Midway Capital Research & Management acquired a new stake in shares of CarMax during the fourth quarter worth about $1,625,000.

About CarMax

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.