CarMax, Inc. (NYSE:KMX) Receives $39.21 Average PT from Analysts

Shares of CarMax, Inc. (NYSE:KMX) have earned an average recommendation of “Reduce” from the nineteen brokerages that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $39.7143.

KMX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Friday, December 19th. Wedbush cut their price target on shares of CarMax from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, December 19th. Evercore set a $42.00 price target on shares of CarMax in a report on Tuesday, February 10th. Zacks Research upgraded shares of CarMax from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Morgan Stanley set a $35.00 price objective on shares of CarMax in a report on Monday, December 8th.

Institutional Trading of CarMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC purchased a new position in shares of CarMax in the second quarter worth about $28,000. MUFG Securities EMEA plc purchased a new stake in CarMax in the second quarter valued at approximately $30,000. Huntington National Bank boosted its position in CarMax by 62.4% in the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the last quarter. Center for Financial Planning Inc. acquired a new position in CarMax in the 3rd quarter worth approximately $31,000. Finally, Advisory Services Network LLC acquired a new position in CarMax in the 3rd quarter worth approximately $32,000.

CarMax Stock Up 2.2%

Shares of KMX stock opened at $41.21 on Tuesday. The stock’s fifty day moving average price is $43.21 and its 200 day moving average price is $42.84. CarMax has a 1-year low of $30.26 and a 1-year high of $81.79. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 1.03 and a beta of 1.30. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.99 and a quick ratio of 0.51.

CarMax Company Profile

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.