CarMax (NYSE:KMX) Given New $90.00 Price Target at Wedbush

CarMax (NYSE:KMX) had its price objective trimmed by Wedbush from $100.00 to $90.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

KMX has been the subject of several other reports. Needham & Company LLC decreased their price target on shares of CarMax from $101.00 to $92.00 and set a “buy” rating for the company in a research report on Friday. Robert W. Baird cut their target price on CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday. Evercore ISI reduced their price target on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. cut their price objective on CarMax from $72.00 to $65.00 and set an “underweight” rating on the stock in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.73.

CarMax Stock Performance

NYSE:KMX opened at $68.53 on Friday. The stock’s 50-day moving average is $78.61 and its 200-day moving average is $79.16. CarMax has a 1-year low of $63.23 and a 1-year high of $91.25. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The stock has a market cap of $10.54 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58.

Insider Activity

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the sale, the senior vice president now owns 227 shares in the company, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the completion of the transaction, the vice president now directly owns 9,448 shares in the company, valued at $765,288. This trade represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,878 shares of company stock worth $1,872,699 in the last quarter. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cromwell Holdings LLC lifted its position in shares of CarMax by 104.8% during the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after purchasing an additional 217 shares in the last quarter. Allworth Financial LP boosted its stake in shares of CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after buying an additional 249 shares during the last quarter. Ameriflex Group Inc. bought a new position in shares of CarMax in the fourth quarter valued at approximately $53,000. ST Germain D J Co. Inc. purchased a new stake in shares of CarMax during the fourth quarter valued at approximately $58,000. Finally, Colonial Trust Co SC lifted its holdings in CarMax by 2,310.0% during the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company’s stock worth $59,000 after acquiring an additional 693 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.