CarMax, Inc. (NYSE:KMX) Receives $39.36 Average Price Target from Analysts

CarMax, Inc. (NYSE:KMX) has received an average recommendation of “Reduce” from the twenty brokerages that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $39.3571.

A number of brokerages recently issued reports on KMX. Bank of America raised their price target on CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a research report on Friday, December 19th. Benchmark reissued a “hold” rating on shares of CarMax in a research note on Tuesday, December 16th. Robert W. Baird lowered their target price on shares of CarMax from $90.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, September 26th. William Blair downgraded shares of CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday, November 6th. Finally, Morgan Stanley set a $35.00 price objective on shares of CarMax in a research report on Monday, December 8th.

Institutional Investors Weigh In On CarMax

A number of institutional investors and hedge funds have recently modified their holdings of KMX. Oregon Pacific Wealth Management LLC increased its stake in CarMax by 33.7% in the fourth quarter. Oregon Pacific Wealth Management LLC now owns 10,750 shares of the company’s stock worth $415,000 after purchasing an additional 2,708 shares during the period. HF Advisory Group LLC boosted its stake in shares of CarMax by 347.7% during the fourth quarter. HF Advisory Group LLC now owns 162,544 shares of the company’s stock valued at $6,281,000 after purchasing an additional 126,236 shares during the period. Blue Trust Inc. boosted its stake in shares of CarMax by 20.0% during the fourth quarter. Blue Trust Inc. now owns 1,424 shares of the company’s stock valued at $55,000 after purchasing an additional 237 shares during the period. Brookstone Capital Management grew its holdings in shares of CarMax by 51.5% in the fourth quarter. Brookstone Capital Management now owns 7,472 shares of the company’s stock worth $289,000 after purchasing an additional 2,539 shares during the last quarter. Finally, Meriwether Wealth & Planning LLC increased its stake in CarMax by 59.3% in the 4th quarter. Meriwether Wealth & Planning LLC now owns 22,295 shares of the company’s stock worth $861,000 after buying an additional 8,301 shares during the period.

CarMax Trading Up 0.6%

KMX opened at $48.82 on Thursday. The stock has a 50-day moving average of $39.26 and a 200 day moving average of $49.27. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. CarMax has a 12 month low of $30.26 and a 12 month high of $89.47. The firm has a market cap of $6.92 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.17 and a beta of 1.29.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.11. The business had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.66 billion. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the company earned $0.81 EPS. As a group, research analysts forecast that CarMax will post 3.23 EPS for the current year.

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.