Stephens Forecasts Strong Price Appreciation for CarMax (NYSE:KMX) Stock

CarMax (NYSE:KMX) had its target price raised by research analysts at Stephens from $66.00 to $74.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ price objective would suggest a potential upside of 31.20% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings upgraded shares of CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Royal Bank Of Canada boosted their target price on CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Benchmark reissued a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Finally, Zacks Research lowered CarMax from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 16th. Two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $52.40.

CarMax Trading Down 1.8%

NYSE KMX opened at $56.40 on Friday. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The firm’s fifty day moving average price is $59.52 and its 200 day moving average price is $49.87. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. CarMax has a 12 month low of $30.26 and a 12 month high of $65.28.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its position in CarMax by 1.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 932,805 shares of the company’s stock valued at $49,336,000 after buying an additional 14,976 shares during the last quarter. State Street Corp boosted its holdings in shares of CarMax by 5.6% in the second quarter. State Street Corp now owns 5,156,276 shares of the company’s stock valued at $272,715,000 after acquiring an additional 271,216 shares in the last quarter. Anchor Investment Management LLC acquired a new position in shares of CarMax during the second quarter worth about $37,000. The Manufacturers Life Insurance Company increased its stake in shares of CarMax by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 2,420,139 shares of the company’s stock worth $128,001,000 after acquiring an additional 21,882 shares during the period. Finally, Capstone Financial Advisors Inc. raised its holdings in CarMax by 5.6% during the second quarter. Capstone Financial Advisors Inc. now owns 9,500 shares of the company’s stock worth $502,000 after purchasing an additional 500 shares in the last quarter.

About CarMax

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.