CarMax, Inc. (NYSE:KMX) Stock Has Average Target Price of $57.85

Shares of CarMax, Inc. (NYSE:KMX) have received an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $57.85.

KMX has been the topic of several analyst reports. UBS Group set a $65.00 target price on shares of CarMax in a research note on Thursday, October 15th. Morgan Stanley increased their price target on shares of CarMax from $47.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 30th. Royal Bank Of Canada raised their price target on shares of CarMax from $45.00 to $56.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 30th. Bank of America raised shares of CarMax from an “underperform” rating to a “buy” rating and raised their price target for the stock from $50.00 to $65.00 in a report on Thursday, October 15th. Finally, Robert W. Baird boosted their price objective on shares of CarMax from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, September 30th.

CarMax Price Performance

Shares of CarMax stock opened at $51.51 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 2.33 and a quick ratio of 0.57. The business’s 50 day simple moving average is $57.63 and its two-hundred day simple moving average is $51.57. The stock has a market capitalization of $7.31 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 1.46 and a beta of 1.23. CarMax has a one year low of $30.26 and a one year high of $65.28.

CarMax (NYSE:KMX) last released its quarterly earnings data on Tuesday, September 29th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.43. CarMax had a return on equity of 7.76% and a net margin of 1.06%. The firm had revenue of $7.88 billion during the quarter, compared to analyst estimates of $7.09 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. Analysts forecast that CarMax will post 3.15 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its stake in shares of CarMax by 5.6% in the second quarter. State Street Corp now owns 5,156,276 shares of the company’s stock worth $272,715,000 after acquiring an additional 271,216 shares during the last quarter. Jupiter Topco LLC purchased a new position in shares of CarMax in the 2nd quarter worth about $245,676,000. Janus Henderson Group PLC raised its position in shares of CarMax by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company’s stock worth $190,471,000 after purchasing an additional 49,987 shares during the last quarter. Primecap Management Co. CA purchased a new position in shares of CarMax in the 2nd quarter worth about $230,548,000. Finally, Dimensional Fund Advisors LP raised its position in shares of CarMax by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,275,663 shares of the company’s stock worth $177,767,000 after purchasing an additional 289,768 shares during the last quarter.

CarMax Company Profile

CarMax, Inc is a specialty retailer of used vehicles and operates one of the largest used-car sales networks in the United States. The company sells a broad selection of pre-owned cars, trucks and SUVs through its retail stores and online platform, offering customers tools for vehicle search, appraisal, financing and purchase.

CarMax also operates a vehicle appraisal and acquisition business, buying vehicles from consumers and other sources for resale through its retail or wholesale channels.