CarMax, Inc. (NYSE:KMX) Receives $51.00 Average Target Price from Brokerages

Shares of CarMax, Inc. (NYSE:KMX) have been assigned a consensus recommendation of “Reduce” from the twenty ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $51.00.

KMX has been the topic of several recent research reports. Robert W. Baird upped their price target on shares of CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Mizuho increased their price objective on shares of CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Morgan Stanley boosted their target price on shares of CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 23rd. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price target for the company in a report on Thursday, June 18th. Finally, Truist Financial lifted their price target on shares of CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, June 18th.

Insider Transactions at CarMax

In other CarMax news, CEO Keith Barr acquired 9,400 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the acquisition, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sona Chawla bought 2,000 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the transaction, the director owned 21,702 shares in the company, valued at $1,158,669.78. This represents a 10.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 13,900 shares of company stock valued at $735,574. 1.01% of the stock is currently owned by insiders.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SRS Investment Management LLC grew its holdings in CarMax by 1,717.5% during the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after acquiring an additional 5,327,603 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of CarMax by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock worth $306,429,000 after purchasing an additional 4,780,903 shares during the last quarter. Norges Bank bought a new position in shares of CarMax during the fourth quarter worth about $159,232,000. Arrowstreet Capital Limited Partnership grew its stake in CarMax by 73.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,522,923 shares of the company’s stock worth $158,074,000 after purchasing an additional 1,494,205 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new position in CarMax in the first quarter worth about $48,634,000.

CarMax Stock Down 0.1%

Shares of NYSE:KMX opened at $58.15 on Monday. CarMax has a fifty-two week low of $30.26 and a fifty-two week high of $62.56. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The firm’s 50-day simple moving average is $53.29 and its 200-day simple moving average is $46.08. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 2.66 and a beta of 1.15.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter last year, the firm earned $1.38 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts predict that CarMax will post 2.73 earnings per share for the current year.

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.