Robert W. Baird Issues Pessimistic Forecast for CarMax (NYSE:KMX) Stock Price

CarMax (NYSE:KMX) had its price target decreased by equities research analysts at Robert W. Baird from $95.00 to $90.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 31.33% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on KMX. JPMorgan Chase & Co. reduced their price target on shares of CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Evercore ISI reduced their price objective on CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Wedbush reiterated an “outperform” rating and set a $100.00 target price on shares of CarMax in a research report on Tuesday, April 1st. Royal Bank of Canada raised their price target on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Finally, Mizuho boosted their price objective on shares of CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.73.

CarMax Stock Performance

Shares of KMX opened at $68.53 on Friday. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. CarMax has a 52-week low of $63.23 and a 52-week high of $91.25. The company has a 50-day simple moving average of $78.61 and a 200-day simple moving average of $79.16. The company has a market capitalization of $10.54 billion, a PE ratio of 23.23, a P/E/G ratio of 1.67 and a beta of 1.58.

Insider Transactions at CarMax

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now owns 227 shares of the company’s stock, valued at $19,199.66. This represents a 95.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of CarMax stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the completion of the sale, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at approximately $1,649,771.80. This represents a 19.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,878 shares of company stock worth $1,872,699 over the last ninety days. 1.66% of the stock is currently owned by corporate insiders.

Institutional Trading of CarMax

A number of hedge funds have recently added to or reduced their stakes in KMX. Quantinno Capital Management LP boosted its position in shares of CarMax by 150.6% in the third quarter. Quantinno Capital Management LP now owns 8,734 shares of the company’s stock worth $676,000 after acquiring an additional 5,249 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of CarMax by 1.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 46,373 shares of the company’s stock valued at $3,588,000 after purchasing an additional 498 shares during the last quarter. Vestcor Inc boosted its holdings in shares of CarMax by 54.9% in the 3rd quarter. Vestcor Inc now owns 3,332 shares of the company’s stock valued at $258,000 after purchasing an additional 1,181 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of CarMax by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock valued at $282,479,000 after buying an additional 14,903 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of CarMax during the 3rd quarter worth $208,000.

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.