Analysts Set CarMax, Inc. (NYSE:KMX) Price Target at $79.73

Shares of CarMax, Inc. (NYSE:KMX) have been assigned a consensus rating of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $79.73.

Several research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of CarMax in a report on Wednesday, October 16th. BNP Paribas upgraded CarMax to a “strong sell” rating in a report on Friday, September 27th. JPMorgan Chase & Co. boosted their price target on shares of CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, September 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of CarMax in a research note on Wednesday, October 16th. Finally, StockNews.com raised shares of CarMax to a “sell” rating in a research report on Friday, July 26th.

CarMax Stock Up 0.8 %

CarMax stock opened at $72.58 on Tuesday. The company has a market capitalization of $11.33 billion, a PE ratio of 28.13, a PEG ratio of 1.46 and a beta of 1.68. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The firm’s fifty day moving average is $77.77 and its 200 day moving average is $75.04. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. CarMax’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. As a group, sell-side analysts predict that CarMax will post 2.97 EPS for the current fiscal year.

Hedge Funds Weigh In On CarMax

A number of hedge funds and other institutional investors have recently modified their holdings of KMX. Patriot Financial Group Insurance Agency LLC increased its position in shares of CarMax by 14.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 27,254 shares of the company’s stock valued at $2,109,000 after acquiring an additional 3,526 shares during the last quarter. Concord Wealth Partners increased its position in shares of CarMax by 84,400.0% during the 3rd quarter. Concord Wealth Partners now owns 845 shares of the company’s stock valued at $65,000 after purchasing an additional 844 shares during the last quarter. Baker Tilly Wealth Management LLC increased its position in shares of CarMax by 26.3% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 3,737 shares of the company’s stock valued at $289,000 after purchasing an additional 778 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of CarMax by 5.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 18,132 shares of the company’s stock worth $1,403,000 after purchasing an additional 995 shares during the period. Finally, Arkadios Wealth Advisors purchased a new position in shares of CarMax in the 3rd quarter worth about $221,000.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.