Stephens Issues Positive Forecast for CarMax (NYSE:KMX) Stock Price

CarMax (NYSE:KMX) had its price objective hoisted by investment analysts at Stephens from $66.00 to $74.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ target price indicates a potential upside of 31.20% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird upped their price target on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. UBS Group set a $60.00 price target on CarMax in a research note on Wednesday, July 29th. Benchmark reissued a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. Mizuho lifted their target price on shares of CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Finally, Zacks Research downgraded shares of CarMax from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CarMax has a consensus rating of “Reduce” and a consensus price target of $52.40.

CarMax Stock Performance

Shares of KMX opened at $56.40 on Friday. The company has a market capitalization of $8.00 billion, a PE ratio of 36.87, a P/E/G ratio of 2.62 and a beta of 1.17. CarMax has a 52-week low of $30.26 and a 52-week high of $65.28. The company has a 50-day simple moving average of $59.52 and a 200-day simple moving average of $49.87. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87.

Institutional Trading of CarMax

A number of institutional investors have recently added to or reduced their stakes in KMX. Bessemer Group Inc. boosted its holdings in CarMax by 28.1% in the first quarter. Bessemer Group Inc. now owns 156,121 shares of the company’s stock valued at $6,491,000 after purchasing an additional 34,211 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of CarMax by 61.7% during the 1st quarter. Bank of America Corp DE now owns 1,687,359 shares of the company’s stock valued at $70,160,000 after buying an additional 643,834 shares during the last quarter. State Street Corp boosted its stake in shares of CarMax by 5.6% during 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 last quarter. Convergence Investment Partners LLC acquired a new stake in shares of CarMax during the first quarter worth approximately $1,688,000. Finally, Midway Capital Research & Management acquired a new stake in shares of CarMax during the fourth quarter worth approximately $1,625,000.

CarMax Company Profile

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.