CarMax (NYSE:KMX – Get Free Report) had its price target boosted by Mizuho from $38.00 to $43.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s target price points to a potential downside of 9.16% from the company’s previous close.
KMX has been the topic of a number of other research reports. Stephens raised their price target on CarMax from $39.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, April 2nd. Evercore set a $45.00 price target on CarMax in a research report on Friday, April 10th. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research report on Wednesday, April 8th. Barclays raised their price target on CarMax from $26.00 to $31.00 and gave the company an “underweight” rating in a research report on Friday, June 12th. Finally, Argus upgraded CarMax to a “hold” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $43.20.
Get Our Latest Analysis on KMX
CarMax Trading Down 9.2%
CarMax (NYSE:KMX – Get Free Report) last released its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. CarMax had a return on equity of 7.00% and a net margin of 0.96%.The business had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter last year, the business posted $1.38 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts forecast that CarMax will post 2.3 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Intech Investment Management LLC increased its holdings in shares of CarMax by 129.4% in the third quarter. Intech Investment Management LLC now owns 86,444 shares of the company’s stock worth $3,879,000 after buying an additional 48,757 shares during the period. Silver Heights Capital Management Inc increased its holdings in shares of CarMax by 39.5% in the third quarter. Silver Heights Capital Management Inc now owns 926,167 shares of the company’s stock worth $41,557,000 after buying an additional 262,478 shares during the period. Freestone Capital Holdings LLC purchased a new position in shares of CarMax in the fourth quarter worth about $968,000. Dimensional Fund Advisors LP increased its holdings in shares of CarMax by 33.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,685,201 shares of the company’s stock worth $165,358,000 after buying an additional 918,553 shares during the period. Finally, Rings Capital Management LLC increased its holdings in shares of CarMax by 71.6% in the third quarter. Rings Capital Management LLC now owns 1,074,000 shares of the company’s stock worth $48,190,000 after buying an additional 448,000 shares during the period.
CarMax News Summary
Here are the key news stories impacting CarMax this week:
- Positive Sentiment: CarMax beat expectations with Q1 EPS of $1.31 versus $0.96 expected, while revenue rose 6.2% to $8.01 billion. Business Wire earnings release
- Positive Sentiment: Management highlighted early progress under a new four-pillar strategy focused on pricing, digital simplification, cost control, and finance penetration, which may support longer-term improvement. Zacks earnings call article
- Neutral Sentiment: Higher used-vehicle prices and stronger wholesale demand helped revenue, but the market appears to be waiting for clearer evidence that the turnaround can lift margins, not just sales. Reuters revenue estimate article
- Negative Sentiment: Profitability disappointed as price cuts used to stimulate sales pressured margins, and investors reacted negatively to signs that earnings growth may remain constrained. WSJ profit falls article
- Negative Sentiment: The company also secured a $500 million term loan, which may have raised focus on leverage and financing costs, especially given already thin margins. TipRanks term loan article
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.
Featured Stories
- Five stocks we like better than CarMax
- 2 Quantum Stocks Are Drawing Capital as AI Infrastructure Hits a Wall
- After an Initial Panic, Wall Street’s Leaning Into Apple’s New Siri AI
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
Receive News & Ratings for CarMax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarMax and related companies with MarketBeat.com's FREE daily email newsletter.
