CarMax, Inc. (NYSE:KMX) Receives $39.36 Average Price Target from Brokerages

Shares of CarMax, Inc. (NYSE:KMX) have been given an average rating of “Reduce” by the nineteen ratings firms that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $39.6429.

Several brokerages recently issued reports on KMX. Bank of America lifted their price objective on CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a research report on Friday, December 19th. Seaport Research Partners downgraded CarMax from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 28th. Wedbush dropped their price objective on CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. JPMorgan Chase & Co. reduced their target price on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. Finally, Barclays lifted their price target on shares of CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Wednesday.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after purchasing an additional 173 shares during the period. Jones Financial Companies Lllp boosted its stake in CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after buying an additional 161 shares during the last quarter. Empowered Funds LLC grew its holdings in CarMax by 12.5% in the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock valued at $411,000 after buying an additional 585 shares during the period. Intech Investment Management LLC grew its holdings in CarMax by 61.7% in the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock valued at $1,492,000 after buying an additional 7,307 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of CarMax during the 1st quarter valued at about $727,000.

CarMax Price Performance

CarMax stock opened at $48.76 on Thursday. The firm has a market capitalization of $6.91 billion, a PE ratio of 16.09, a P/E/G ratio of 1.14 and a beta of 1.29. CarMax has a 52 week low of $30.26 and a 52 week high of $89.47. The firm’s 50-day simple moving average is $40.12 and its 200 day simple moving average is $48.81. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.11. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The firm had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the firm posted $0.81 EPS. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, equities research analysts predict that CarMax will post 3.23 EPS for the current fiscal year.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.