Stephens Forecasts Strong Price Appreciation for CarMax (NYSE:KMX) Stock

CarMax (NYSE:KMX) had its price target raised by stock analysts at Stephens from $39.00 to $43.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Stephens’ target price would suggest a potential upside of 4.36% from the company’s current price.

A number of other research firms also recently weighed in on KMX. Barclays upped their price target on CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 21st. Benchmark restated a “hold” rating on shares of CarMax in a report on Tuesday, December 16th. Royal Bank Of Canada upped their target price on CarMax from $34.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Friday, December 19th. Truist Financial increased their target price on CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $39.71.

CarMax Trading Down 0.1%

KMX opened at $41.21 on Thursday. The company has a fifty day moving average price of $43.11 and a two-hundred day moving average price of $42.70. 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 P/E ratio of 13.60, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74.

Institutional Trading of CarMax

Several institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank grew its holdings in CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after buying an additional 265 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in CarMax in the 2nd quarter valued at $28,000. MUFG Securities EMEA plc bought a new position in CarMax during the 2nd quarter valued at $30,000. Center for Financial Planning Inc. purchased a new position in CarMax during the 3rd quarter worth $31,000. Finally, Advisory Services Network LLC purchased a new position in CarMax during the 3rd quarter worth $32,000.

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.