Brokerages Set CarMax, Inc. (NYSE:KMX) Target Price at $39.21
by Jessica Moore · The Cerbat GemShares of CarMax, Inc. (NYSE:KMX – Get Free Report) have been given a consensus recommendation of “Reduce” by the nineteen research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $39.7143.
A number of brokerages have weighed in on KMX. Mizuho lowered their price objective on CarMax from $46.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, December 19th. JPMorgan Chase & Co. cut their target price on CarMax from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Friday, December 19th. Robert W. Baird raised their price target on CarMax from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Morgan Stanley set a $35.00 price target on CarMax in a research note on Monday, December 8th. Finally, Evercore set a $42.00 price objective on CarMax in a report on Tuesday, February 10th.
Get Our Latest Analysis on CarMax
CarMax Stock Down 0.1%
KMX stock opened at $41.21 on Tuesday. The stock has a market capitalization of $5.84 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30. The company has a fifty day moving average of $43.11 and a 200-day moving average of $42.58. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99. CarMax has a one year low of $30.26 and a one year high of $81.79.
Hedge Funds Weigh In On CarMax
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SRS Investment Management LLC lifted its stake in shares of CarMax by 1,717.5% in the fourth quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company’s stock valued at $217,845,000 after purchasing an additional 5,327,603 shares during the period. AQR Capital Management LLC grew its position in CarMax by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company’s stock worth $306,429,000 after buying an additional 4,780,903 shares during the period. Norges Bank acquired a new position in CarMax during the fourth quarter worth about $159,232,000. Arrowstreet Capital Limited Partnership increased its holdings in CarMax by 1,410.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,028,718 shares of the company’s stock valued at $136,350,000 after buying an additional 1,894,408 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in CarMax by 795.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,846,406 shares of the company’s stock valued at $124,097,000 after buying an additional 1,640,219 shares in the last quarter.
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.