CarMax (NYSE:KMX) Sets New 12-Month Low – Here’s Why

by · The Cerbat Gem

Shares of CarMax, Inc. (NYSE:KMX – Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $62.52 and last traded at $62.73, with a volume of 315598 shares changing hands. The stock had previously closed at $64.59.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of CarMax in a research report on Monday. Robert W. Baird dropped their price target on shares of CarMax from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Needham & Company LLC decreased their price objective on shares of CarMax from $101.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. Finally, StockNews.com cut CarMax from a “hold” rating to a “sell” rating in a research note on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $87.73.

Check Out Our Latest Stock Analysis on KMX

CarMax Price Performance

The stock has a market cap of $9.49 billion, a PE ratio of 21.08, a PEG ratio of 1.67 and a beta of 1.58. The business’s 50-day simple moving average is $76.62 and its 200-day simple moving average is $78.79. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92.

Insider Activity at CarMax

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. This represents a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

About CarMax

(Get Free Report)

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.

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