CarMax (NYSE:KMX) Price Target Raised to $48.00 at Robert W. Baird

CarMax (NYSE:KMX) had its target price boosted by Robert W. Baird from $44.00 to $48.00 in a research note released on Wednesday morning, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. Stephens decreased their price objective on shares of CarMax from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, December 19th. Royal Bank Of Canada lifted their target price on CarMax from $34.00 to $37.00 and gave the company a “sector perform” rating in a research note on Friday, December 19th. Bank of America boosted their target price on shares of CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a report on Friday, December 19th. Morgan Stanley set a $35.00 price target on shares of CarMax in a report on Monday, December 8th. Finally, Wedbush lowered their price objective on CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $39.21.

CarMax Stock Up 8.3%

KMX opened at $45.74 on Wednesday. CarMax has a 1-year low of $30.26 and a 1-year high of $88.52. The firm’s 50 day simple moving average is $43.38 and its two-hundred day simple moving average is $46.37. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. The company has a market capitalization of $6.49 billion, a PE ratio of 15.10, a PEG ratio of 1.01 and a beta of 1.35.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 18th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.31 by $0.12. The firm had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.66 billion. CarMax had a return on equity of 7.72% and a net margin of 1.77%.The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. As a group, equities analysts forecast that CarMax will post 3.23 EPS for the current year.

Hedge Funds Weigh In On CarMax

Several institutional investors have recently made changes to their positions in KMX. Mercer Global Advisors Inc. ADV raised its position in shares of CarMax by 94.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 62,338 shares of the company’s stock worth $2,409,000 after acquiring an additional 30,218 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of CarMax by 36.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 176,750 shares of the company’s stock valued at $6,830,000 after purchasing an additional 47,133 shares in the last quarter. SPWM Advisors LLC acquired a new stake in CarMax in the fourth quarter valued at approximately $556,000. SRS Investment Management LLC raised its holdings in shares of CarMax by 1,717.5% during the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock worth $217,845,000 after acquiring an additional 5,327,603 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of CarMax in the fourth quarter valued at about $3,624,000.

About CarMax

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.