CarMax (KMX) stock getting hammered - analysts just chopped price target from $56.88 to $44.20, down 22.3%. That's rough. Current price sitting at $34.43, so even at the new target there's only ~28% upside baked in. Here's the kicker: institutions are quietly bailing out. 1,254 funds held positions last quarter, but that's down 6.5%. The big boys like Vanguard, Janus Henderson, and Diamond Hill all trimmed their KMX allocation between 22-75% in the last three months. Total institutional shares dropped 7.8% to 174M. Only bright spot? Put/call ratio at 0.58 signals some bullish betting underneath. Analyst targets are all over the map though - ranging from $25.25 (yikes) to $114.42 (cope?). Market's clearly confused on this one.
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CarMax (KMX) stock getting hammered - analysts just chopped price target from $56.88 to $44.20, down 22.3%. That's rough. Current price sitting at $34.43, so even at the new target there's only ~28% upside baked in. Here's the kicker: institutions are quietly bailing out. 1,254 funds held positions last quarter, but that's down 6.5%. The big boys like Vanguard, Janus Henderson, and Diamond Hill all trimmed their KMX allocation between 22-75% in the last three months. Total institutional shares dropped 7.8% to 174M. Only bright spot? Put/call ratio at 0.58 signals some bullish betting underneath. Analyst targets are all over the map though - ranging from $25.25 (yikes) to $114.42 (cope?). Market's clearly confused on this one.