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

CarMax, Inc. (NYSE:KMX) has earned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $79.73.

A number of equities research analysts have commented on KMX shares. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of CarMax in a report on Wednesday, October 16th. Truist Financial upped their target price on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. StockNews.com upgraded CarMax to a “sell” rating in a report on Friday, July 26th. Evercore ISI upped their target price on CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, October 17th. Finally, Wedbush reiterated an “outperform” rating and set a $95.00 price objective on shares of CarMax in a report on Wednesday, October 16th.

CarMax Stock Performance

Shares of KMX opened at $77.10 on Friday. The business’s fifty day simple moving average is $75.11 and its two-hundred day simple moving average is $75.56. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. CarMax has a 12 month low of $62.90 and a 12 month high of $88.22. The company has a market cap of $11.94 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 1.59 and a beta of 1.68.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the business earned $0.75 earnings per share. The business’s quarterly revenue was down .9% on a year-over-year basis. Research analysts anticipate that CarMax will post 2.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CarMax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Community Trust NA purchased a new position in CarMax in the 2nd quarter valued at about $29,000. Quarry LP increased its holdings in CarMax by 78.6% in the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after purchasing an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in CarMax in the 3rd quarter valued at approximately $32,000. True Wealth Design LLC grew its stake in shares of CarMax by 4,844.4% in the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after acquiring an additional 436 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares in the last quarter.

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.