CarMax, Inc. (NYSE:KMX) Given Average Recommendation of “Hold” by Analysts

Posted by on Aug 24th, 2023

Shares of CarMax, Inc. (NYSE:KMX – Get Free Report) have earned a consensus recommendation of “Hold” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $77.60.

KMX has been the subject of several recent research reports. Truist Financial boosted their price target on shares of CarMax from $64.00 to $82.00 in a research note on Monday, June 26th. Royal Bank of Canada boosted their price target on shares of CarMax from $70.00 to $90.00 in a research report on Monday, June 26th. Northcoast Research cut shares of CarMax from a “buy” rating to a “neutral” rating in a report on Monday, June 12th. Wedbush restated a “neutral” rating and issued a $85.00 price objective on shares of CarMax in a report on Thursday, August 17th. Finally, Robert W. Baird upped their price objective on shares of CarMax from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, August 17th.

View Our Latest Stock Report on KMX

Insider Activity at CarMax

In related news, CEO William D. Nash sold 170,646 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $82.57, for a total transaction of $14,090,240.22. Following the transaction, the chief executive officer now owns 177,180 shares in the company, valued at $14,629,752.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CarMax news, CEO William D. Nash sold 170,646 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $82.57, for a total value of $14,090,240.22. Following the transaction, the chief executive officer now directly owns 177,180 shares in the company, valued at $14,629,752.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jill A. Livesay sold 14,000 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $84.50, for a total transaction of $1,183,000.00. Following the completion of the sale, the vice president now directly owns 9,068 shares of the company’s stock, valued at $766,246. The disclosure for this sale can be found here. Insiders have sold a total of 304,993 shares of company stock worth $25,375,428 over the last quarter. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Several institutional investors have recently made changes to their positions in the company. Comerica Bank bought a new stake in CarMax during the 2nd quarter valued at about $7,300,000. Osaic Holdings Inc. lifted its holdings in CarMax by 5.3% during the 2nd quarter. Osaic Holdings Inc. now owns 99,334 shares of the company’s stock valued at $8,312,000 after buying an additional 5,003 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in CarMax by 374.6% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 46,328 shares of the company’s stock valued at $3,878,000 after buying an additional 36,566 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in CarMax by 0.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 480,082 shares of the company’s stock valued at $40,183,000 after buying an additional 1,400 shares in the last quarter. Finally, Blueshift Asset Management LLC lifted its holdings in CarMax by 24.3% during the 2nd quarter. Blueshift Asset Management LLC now owns 7,385 shares of the company’s stock valued at $618,000 after buying an additional 1,442 shares in the last quarter.

CarMax Stock Performance

NYSE KMX opened at $79.23 on Thursday. CarMax has a 52-week low of $52.10 and a 52-week high of $94.42. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.61 and a current ratio of 2.54. The company has a market capitalization of $12.53 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.80 and a beta of 1.44. The company has a fifty day moving average of $82.79 and a 200-day moving average of $74.01.

CarMax (NYSE:KMX – Get Free Report) last posted its quarterly earnings data on Friday, June 23rd. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.65. CarMax had a net margin of 1.64% and a return on equity of 7.46%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same period in the previous year, the firm posted $1.56 EPS. The firm’s revenue was down 17.4% compared to the same quarter last year. As a group, equities research analysts predict that CarMax will post 2.95 EPS for the current fiscal year.

CarMax Company Profile

(Get Free Report

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.

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Analyst Recommendations for CarMax (NYSE:KMX)

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