Brokerages Set CarMax, Inc. (NYSE:KMX) Target Price at $83.80

CarMax, Inc. (NYSE:KMXGet Rating) has received an average recommendation of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $83.80.

KMX has been the topic of a number of analyst reports. Wedbush cut their price target on CarMax to $67.00 in a report on Thursday, November 17th. Robert W. Baird cut their price target on CarMax from $120.00 to $82.00 and set an “outperform” rating on the stock in a report on Friday, September 30th. Royal Bank of Canada lowered their price objective on CarMax from $108.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, September 30th. Evercore ISI lowered their price objective on CarMax from $90.00 to $73.00 in a research report on Friday, September 30th. Finally, Morgan Stanley lowered their price objective on CarMax from $124.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 4th.

CarMax Price Performance

Shares of CarMax stock opened at $66.59 on Tuesday. The stock has a 50 day moving average of $67.69 and a 200 day moving average of $84.73. CarMax has a 12 month low of $54.85 and a 12 month high of $152.28. The firm has a market cap of $10.52 billion, a PE ratio of 13.43, a PEG ratio of 2.72 and a beta of 1.41. The company has a current ratio of 2.75, a quick ratio of 0.56 and a debt-to-equity ratio of 3.33.

CarMax (NYSE:KMXGet Rating) last posted its quarterly earnings data on Thursday, September 29th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.61). CarMax had a net margin of 2.40% and a return on equity of 14.95%. The company had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.55 billion. During the same period in the previous year, the business earned $1.72 earnings per share. CarMax’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts expect that CarMax will post 3.92 EPS for the current fiscal year.

Institutional Trading of CarMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KMX. Whittier Trust Co. lifted its position in CarMax by 480.0% during the 1st quarter. Whittier Trust Co. now owns 290 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of CarMax by 48.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,953 shares of the company’s stock valued at $285,000 after buying an additional 966 shares during the period. Mutual of America Capital Management LLC lifted its holdings in shares of CarMax by 0.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 21,591 shares of the company’s stock valued at $2,083,000 after buying an additional 173 shares during the period. FDx Advisors Inc. lifted its holdings in shares of CarMax by 386.6% in the 1st quarter. FDx Advisors Inc. now owns 14,389 shares of the company’s stock valued at $1,388,000 after buying an additional 11,432 shares during the period. Finally, Metis Global Partners LLC acquired a new position in shares of CarMax in the 1st quarter valued at about $247,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

About CarMax

(Get Rating)

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.

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Analyst Recommendations for CarMax (NYSE:KMX)

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