CarMax (NYSE:KMX) Price Target Cut to $60.00 by Analysts at Benchmark

CarMax (NYSE:KMX) had its price target dropped by equities research analysts at Benchmark from $75.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target indicates a potential upside of 29.29% from the stock’s current price.

Several other research firms have also commented on KMX. JPMorgan Chase & Co. lowered their price objective on shares of CarMax from $65.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 26th. Robert W. Baird reduced their target price on shares of CarMax from $90.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, September 26th. BNP Paribas Exane lowered their price objective on CarMax from $52.00 to $35.00 and set an “underperform” rating on the stock in a report on Friday, September 26th. Morgan Stanley lowered their price target on CarMax from $80.00 to $56.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Finally, Wedbush cut CarMax from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $84.00 to $54.00 in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $54.42.

CarMax Price Performance

Shares of CarMax stock opened at $46.41 on Tuesday. The stock has a market capitalization of $6.82 billion, a P/E ratio of 13.67, a PEG ratio of 0.87 and a beta of 1.27. The business has a 50 day simple moving average of $56.72 and a two-hundred day simple moving average of $63.67. CarMax has a 12 month low of $42.75 and a 12 month high of $91.25. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06.

CarMax (NYSE:KMX) last announced its quarterly earnings data 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 business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a net margin of 1.98% and a return on equity of 8.51%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. As a group, analysts predict that CarMax will post 3.23 EPS for the current fiscal year.

Institutional Trading of CarMax

Several institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation National Association UT acquired a new stake in shares of CarMax during the 1st quarter worth approximately $27,000. CYBER HORNET ETFs LLC acquired a new position in shares of CarMax during the second quarter valued at approximately $28,000. Accent Capital Management LLC bought a new stake in shares of CarMax in the 1st quarter worth $34,000. MUFG Securities EMEA plc bought a new stake in CarMax in the second quarter worth about $30,000. Finally, Strengthening Families & Communities LLC lifted its stake in CarMax by 93.1% during the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after purchasing an additional 256 shares during the last quarter.

CarMax Company Profile

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.