CarMax, Inc. (NYSE:KMX) Receives $51.00 Average Price Target from Brokerages

CarMax, Inc. (NYSE:KMX) has been assigned a consensus rating of “Hold” from the twenty ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $51.00.

A number of equities analysts have recently weighed in on KMX shares. JPMorgan Chase & Co. raised shares of CarMax from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $38.00 to $60.00 in a research report on Wednesday, July 29th. Benchmark restated a “hold” rating on shares of CarMax in a report on Thursday, June 18th. Robert W. Baird increased their price target on shares of CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Zacks Research upgraded CarMax from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of CarMax from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 20th.

Insider Activity at CarMax

In other news, Director Peter Bensen purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $52.20 per share, with a total value of $130,500.00. Following the purchase, the director directly owned 24,796 shares of the company’s stock, valued at approximately $1,294,351.20. This represents a 11.21% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sona Chawla purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the purchase, the director owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. This represents a 10.15% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 13,900 shares of company stock valued at $735,574. Corporate insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On CarMax

Several institutional investors and hedge funds have recently made changes to their positions in KMX. Corient Private Wealth LP lifted its position in shares of CarMax by 19.2% in the 2nd quarter. Corient Private Wealth LP now owns 67,136 shares of the company’s stock worth $3,551,000 after buying an additional 10,811 shares during the last quarter. Amundi grew its position in shares of CarMax by 38.4% during the 2nd quarter. Amundi now owns 41,425 shares of the company’s stock valued at $2,191,000 after buying an additional 11,484 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of CarMax during the 2nd quarter valued at about $1,550,000. California State Teachers Retirement System raised its stake in CarMax by 4,934.8% during the second quarter. California State Teachers Retirement System now owns 8,253,061 shares of the company’s stock worth $436,504,000 after acquiring an additional 8,089,141 shares during the period. Finally, iSAM Funds UK Ltd acquired a new stake in CarMax during the second quarter worth about $222,000.

CarMax Trading Up 1.8%

Shares of KMX stock opened at $62.54 on Friday. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The business has a fifty day simple moving average of $57.56 and a 200-day simple moving average of $48.10. CarMax has a fifty-two week low of $30.26 and a fifty-two week high of $65.28. The stock has a market cap of $8.88 billion, a P/E ratio of 40.88, a P/E/G ratio of 2.81 and a beta of 1.17.

CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. On average, analysts forecast that CarMax will post 2.73 earnings per share for the current fiscal 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.