CarMax (NYSE:KMX) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of CarMax (NYSE:KMX) from a hold rating to a sell rating in a research report report published on Friday.

KMX has been the topic of a number of other reports. Royal Bank of Canada dropped their price objective on shares of CarMax from $103.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday. Robert W. Baird dropped 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 dropped their price objective on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 11th. Truist Financial increased their target price on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a report on Friday, December 20th. Finally, Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, March 26th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.73.

CarMax Stock Up 3.1 %

KMX stock opened at $68.53 on Friday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax has a fifty-two week low of $63.23 and a fifty-two week high of $91.25. The stock’s 50 day simple moving average is $78.61 and its 200 day simple moving average is $79.17. The company 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 Buying and Selling

In other CarMax news, VP Jill A. Livesay sold 13,009 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the sale, the vice president now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the transaction, the senior vice president now owns 227 shares of the company’s stock, valued at $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,878 shares of company stock worth $1,872,699. Corporate insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

Hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of CarMax in the 4th quarter valued at $423,187,000. Kovitz Investment Group Partners LLC increased its holdings in shares of CarMax by 348.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock worth $539,213,000 after buying an additional 5,122,850 shares during the period. AQR Capital Management LLC boosted its holdings in CarMax by 82.9% during the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company’s stock valued at $114,465,000 after acquiring an additional 634,390 shares during the period. GAMMA Investing LLC grew its position in CarMax by 8,675.6% during the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company’s stock worth $40,193,000 after acquiring an additional 509,952 shares during the last quarter. Finally, ThornTree Capital Partners LP purchased a new position in CarMax in the 4th quarter worth approximately $35,612,000.

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.