CarMax (NYSE:KMX) Trading 8.2% Higher on Analyst Upgrade

Shares of CarMax, Inc. (NYSE:KMX) shot up 8.2% on Wednesday after Robert W. Baird raised their price target on the stock from $44.00 to $48.00. Robert W. Baird currently has an outperform rating on the stock. CarMax traded as high as $46.18 and last traded at $45.7290. 3,042,738 shares were traded during mid-day trading, a decline of 15% from the average session volume of 3,578,119 shares. The stock had previously closed at $42.25.

KMX has been the subject of several other research reports. Truist Financial boosted their price target on shares of CarMax from $35.00 to $37.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Bank of America boosted their price target on CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a research report on Friday, December 19th. Royal Bank Of Canada increased their price target on shares of CarMax from $34.00 to $37.00 and gave the company a “sector perform” rating in a report on Friday, December 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of CarMax in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. reduced their target price on CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $39.21.

Institutional Trading of CarMax

Several large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CarMax by 0.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after purchasing an additional 173 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after buying an additional 161 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of CarMax by 12.5% in the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after purchasing an additional 585 shares during the period. Intech Investment Management LLC grew its stake in shares of CarMax by 61.7% during the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock worth $1,492,000 after acquiring an additional 7,307 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of CarMax in the first quarter valued at approximately $727,000.

CarMax Stock Down 2.2%

The company has a debt-to-equity ratio of 2.74, a current ratio of 1.99 and a quick ratio of 0.51. The stock has a market capitalization of $6.33 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.09 and a beta of 1.35. The stock has a fifty day moving average price of $43.44 and a 200 day moving average price of $46.36.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The firm had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, research analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current year.

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.