Wall Street Zen Upgrades CarMax (NYSE:KMX) to Hold

CarMax (NYSE:KMX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other analysts have also issued reports on the stock. Evercore set a $42.00 price target on shares of CarMax in a research report on Tuesday, February 10th. Barclays lifted their price objective on CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Wednesday, January 21st. Bank of America boosted their target price on CarMax from $27.00 to $31.00 and gave the company an “underperform” rating in a research note on Friday, December 19th. Morgan Stanley set a $35.00 price target on CarMax in a research report on Monday, December 8th. Finally, JPMorgan Chase & Co. decreased their price target on CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, CarMax has an average rating of “Reduce” and an average target price of $39.71.

CarMax Price Performance

Shares of CarMax stock opened at $41.21 on Friday. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99. CarMax has a 52-week low of $30.26 and a 52-week high of $81.79. The company has a fifty day moving average of $43.11 and a 200-day moving average of $42.46. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30.

Institutional Trading of CarMax

Several large investors have recently modified their holdings of the business. World Investment Advisors raised its position in CarMax by 1.5% during the 4th quarter. World Investment Advisors now owns 111,013 shares of the company’s stock valued at $4,290,000 after purchasing an additional 1,643 shares during the last quarter. Midway Capital Research & Management bought a new stake in shares of CarMax in the 4th quarter worth approximately $1,625,000. Framtiden Holdings Management Co LLC purchased a new position in shares of CarMax during the fourth quarter valued at approximately $20,866,000. Van Diest Capital LLC purchased a new position in shares of CarMax during the fourth quarter valued at approximately $226,000. Finally, Alberta Investment Management Corp bought a new position in shares of CarMax during the fourth quarter valued at approximately $4,326,000.

About CarMax

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.