Needham & Company LLC Trims CarMax (NYSE:KMX) Target Price to $87.00

CarMax (NYSE:KMX) had its target price decreased by Needham & Company LLC from $91.00 to $87.00 in a report published on Monday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $83.00 price objective on shares of CarMax in a report on Monday, April 8th. Bank of America lifted their price objective on shares of CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a report on Thursday, February 29th. Oppenheimer restated an outperform rating and set a $105.00 price target on shares of CarMax in a research report on Tuesday, April 9th. JPMorgan Chase & Co. cut their price target on shares of CarMax from $60.00 to $55.00 and set an underweight rating for the company in a research report on Monday, April 15th. Finally, Robert W. Baird cut their price target on shares of CarMax from $88.00 to $84.00 and set an outperform rating for the company in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $75.50.

CarMax Stock Up 1.3 %

Shares of NYSE:KMX opened at $72.73 on Monday. The firm has a fifty day moving average price of $70.45 and a two-hundred day moving average price of $73.95. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. CarMax has a one year low of $59.66 and a one year high of $88.22. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.41 and a beta of 1.69.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same period last year, the firm earned $1.16 EPS. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. Analysts anticipate that CarMax will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the transaction, the executive vice president now owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of CarMax by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after purchasing an additional 222,132 shares in the last quarter. Norges Bank purchased a new stake in shares of CarMax during the fourth quarter valued at approximately $288,278,000. Morningstar Investment Services LLC grew its holdings in shares of CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after buying an additional 1,326,840 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of CarMax by 3.1% during the fourth quarter. Cooke & Bieler LP now owns 2,344,650 shares of the company’s stock valued at $179,928,000 after buying an additional 69,409 shares during the last quarter. Finally, First Pacific Advisors LP grew its holdings in shares of CarMax by 0.3% during the first quarter. First Pacific Advisors LP now owns 2,339,026 shares of the company’s stock valued at $203,753,000 after buying an additional 7,481 shares during the last quarter.

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.