CarMax, Inc. (NYSE:KMX) Stock Has Average Price Target of $51.67

CarMax, Inc. (NYSE:KMX) has been assigned a consensus recommendation of “Reduce” from the twenty research firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $51.87.

KMX has been the topic of several research reports. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective on the stock in a report on Thursday, June 18th. Benchmark reiterated a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. Barclays raised CarMax from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $37.00 to $61.00 in a research report on Tuesday, July 21st. Mizuho boosted their price target on CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Finally, Morgan Stanley upped their price target on CarMax from $44.00 to $47.00 and gave the company a “cautious” rating in a report on Wednesday.

Institutional Trading of CarMax

A number of institutional investors and hedge funds have recently modified their holdings of KMX. Envestnet Asset Management Inc. boosted its stake in CarMax by 1.6% during the second quarter. Envestnet Asset Management Inc. now owns 932,805 shares of the company’s stock worth $49,336,000 after buying an additional 14,976 shares in the last quarter. State Street Corp increased its holdings in CarMax by 5.6% in the 2nd quarter. State Street Corp now owns 5,156,276 shares of the company’s stock valued at $272,715,000 after buying an additional 271,216 shares during the period. Anchor Investment Management LLC acquired a new position in shares of CarMax in the 2nd quarter valued at $37,000. The Manufacturers Life Insurance Company raised its stake in shares of CarMax by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,420,139 shares of the company’s stock valued at $128,001,000 after buying an additional 21,882 shares in the last quarter. Finally, Capstone Financial Advisors Inc. lifted its holdings in shares of CarMax by 5.6% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 9,500 shares of the company’s stock worth $502,000 after acquiring an additional 500 shares during the period.

CarMax Stock Performance

Shares of KMX opened at $56.40 on Tuesday. CarMax has a one year low of $30.26 and a one year high of $65.28. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The company has a market capitalization of $8.00 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company’s fifty day moving average price is $59.52 and its 200 day moving average price is $49.87.

About CarMax

CarMax, Inc is a specialty retailer of used vehicles and one of the largest automotive retailers in the United States. The company sells a broad selection of used cars, trucks and sport utility vehicles through its retail locations and online platform. CarMax also purchases vehicles from consumers and other sources, providing customers with a streamlined alternative to traditional private-party sales.

In addition to retail sales, CarMax operates wholesale vehicle auctions for vehicles that do not meet its retail standards or business requirements.