CarMax (NYSE:KMX) Upgraded at Stephens

CarMax (NYSE:KMX) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday, MarketBeat reports. The firm presently has a $66.00 price target on the stock. Stephens’ price objective would indicate a potential upside of 27.17% from the company’s previous close.

KMX has been the subject of a number of other research reports. Benchmark reiterated a “hold” rating on shares of CarMax in a report on Thursday. Bank of America upped their price objective on CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a report on Wednesday. Robert W. Baird upped their price objective on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday. Mizuho upped their price objective on CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Truist Financial set a $50.00 price objective on CarMax in a report on Thursday. Two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $46.07.

CarMax Trading Up 9.4%

Shares of KMX stock traded up $4.47 on Thursday, reaching $51.90. 2,146,635 shares of the stock were exchanged, compared to its average volume of 3,445,184. The stock has a market cap of $7.36 billion, a PE ratio of 32.38, a P/E/G ratio of 1.97 and a beta of 1.21. CarMax has a one year low of $30.26 and a one year high of $71.99. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.20 and a quick ratio of 0.49. The stock has a 50 day moving average price of $42.36 and a 200 day moving average price of $42.45.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 earnings per share. Equities research analysts forecast that CarMax will post 2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On CarMax

Several large investors have recently modified their holdings of KMX. Huntington National Bank increased its holdings in shares of CarMax by 62.4% in the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of CarMax in the second quarter worth about $28,000. Wellington Grp LLC increased its holdings in shares of CarMax by 6,500.0% in the first quarter. Wellington Grp LLC now owns 726 shares of the company’s stock worth $30,000 after acquiring an additional 715 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of CarMax in the second quarter worth about $30,000. Finally, Advisory Services Network LLC bought a new stake in shares of CarMax in the third quarter worth about $32,000.

CarMax News Roundup

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: CarMax delivered a strong first-quarter beat, reporting adjusted EPS of $1.31 versus estimates around $0.96 and revenue of $8.01 billion versus $7.42 billion expected, helped by higher used-vehicle prices and stronger wholesale demand.
• Positive Sentiment: The company also unveiled a new four-pillar growth strategy focused on pricing, digital simplification, cost control, and finance penetration, which investors may see as a roadmap for improving performance over time.
• Positive Sentiment: Analysts have started to raise their forecasts after the report, including Mizuho lifting its price target from $38 to $43, signaling improving sentiment even though the rating remains neutral. Article Title

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.