CarMax, Inc. (NYSE:KMX) Given Consensus Rating of “Reduce” by Analysts

Shares of CarMax, Inc. (NYSE:KMX) have received an average rating of “Reduce” from the twenty ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $51.00.

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of CarMax from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $38.00 to $60.00 in a research note on Wednesday, July 29th. Morgan Stanley increased their target price on CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. Truist Financial increased their price objective on CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, June 18th. Benchmark reiterated a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. Finally, Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price for the company in a research note on Thursday, June 18th.

CarMax Stock Up 0.1%

KMX stock opened at $57.33 on Monday. The business has a 50 day moving average of $51.74 and a 200 day moving average of $45.73. The firm has a market cap of $8.14 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 2.62 and a beta of 1.15. CarMax has a twelve month low of $30.26 and a twelve month high of $62.56. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX) last released its earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The business had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the previous year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, research analysts forecast that CarMax will post 2.73 EPS for the current fiscal year.

Insider Transactions at CarMax

In other CarMax news, CEO Keith Barr purchased 9,400 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the purchase, the chief executive officer directly owned 33,375 shares of the company’s stock, valued at $1,769,208.75. The trade was a 39.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sona Chawla acquired 2,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $53.39 per share, with a total value of $106,780.00. Following the transaction, the director owned 21,702 shares in the company, valued at approximately $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 13,900 shares of company stock worth $735,574 in the last quarter. Company insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Basecamp Wealth Advisors LLC grew its stake in shares of CarMax by 105.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after acquiring an additional 327 shares during the period. Huntington National Bank lifted its position in shares of 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 acquiring an additional 265 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of CarMax in the second quarter worth about $28,000. Wellington Grp LLC lifted its holdings in CarMax by 6,500.0% in the 1st quarter. Wellington Grp LLC now owns 726 shares of the company’s stock worth $30,000 after purchasing an additional 715 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in CarMax in the 2nd quarter worth approximately $30,000.

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.