Brokerages Set CarMax, Inc. (NYSE:KMX) Target Price at $85.82

CarMax, Inc. (NYSE:KMX) has been given a consensus rating of “Hold” by the fourteen analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $85.82.

Several equities research analysts recently issued reports on KMX shares. Cfra Research upgraded CarMax to a “strong-buy” rating in a report on Thursday, April 10th. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price objective on CarMax from $72.00 to $65.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Wedbush restated an “outperform” rating and set a $90.00 target price on shares of CarMax in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th.

CarMax Price Performance

KMX stock opened at $68.42 on Wednesday. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The company has a market capitalization of $10.45 billion, a PE ratio of 23.19, a P/E/G ratio of 1.67 and a beta of 1.38. CarMax has a 12-month low of $61.34 and a 12-month high of $91.25. The business’s fifty day moving average price is $66.89 and its 200 day moving average price is $76.44.

Insider Activity

In other CarMax news, Director Mitchell D. Steenrod acquired 1,300 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were acquired at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the acquisition, the director now owns 33,577 shares in the company, valued at $2,198,957.73. The trade was a 4.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its holdings in shares of CarMax by 10.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company’s stock valued at $261,000 after acquiring an additional 307 shares during the last quarter. Jones Financial Companies Lllp grew its stake in CarMax by 36.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company’s stock worth $426,000 after buying an additional 1,396 shares during the last quarter. Principal Financial Group Inc. grew its stake in CarMax by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after buying an additional 282,519 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in CarMax by 0.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 354,380 shares of the company’s stock worth $28,974,000 after buying an additional 3,019 shares during the last quarter. Finally, Essex Financial Services Inc. purchased a new position in CarMax during the 4th quarter worth approximately $235,000.

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.