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

CarMax, Inc. (NYSE:KMX) has been given a consensus rating of “Reduce” by the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $53.15.

KMX has been the topic of several research analyst reports. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Benchmark reissued a “hold” rating on shares of CarMax in a report on Thursday, June 18th. Barclays upgraded CarMax from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $37.00 to $61.00 in a research report on Tuesday, July 21st. Truist Financial lifted their price target on CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, June 18th. Finally, Morgan Stanley boosted their price target on CarMax from $44.00 to $47.00 and gave the stock a “cautious” rating in a research report on Wednesday.

CarMax Stock Up 1.6%

Shares of NYSE KMX opened at $57.24 on Tuesday. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 37.41, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company’s 50-day simple moving average is $59.51 and its 200-day simple moving average is $49.92. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. CarMax has a 52-week low of $30.26 and a 52-week high of $65.28.

Institutional Investors Weigh In On CarMax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Basecamp Wealth Advisors LLC raised its position in shares of CarMax by 105.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 327 shares during the last quarter. Huntington National Bank boosted its position in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after acquiring an additional 265 shares during the last quarter. Global Retirement Partners LLC acquired a new position in CarMax during the second quarter worth about $29,000. Wellington Grp LLC grew its stake in CarMax by 6,500.0% during the 1st quarter. Wellington Grp LLC now owns 726 shares of the company’s stock valued at $30,000 after acquiring an additional 715 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC purchased a new stake in CarMax during the 4th quarter valued at about $33,000.

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.