Robert W. Baird Forecasts Strong Price Appreciation for CarMax (NYSE:KMX) Stock

CarMax (NYSE:KMX) had its price objective hoisted by equities research analysts at Robert W. Baird from $44.00 to $48.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 7.54% from the stock’s current price.

A number of other research analysts have also recently weighed in on KMX. Wedbush dropped their price objective on shares of CarMax from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Royal Bank Of Canada upped their price objective on CarMax from $34.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Friday, December 19th. Wall Street Zen cut CarMax from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. JPMorgan Chase & Co. lowered 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. Finally, Zacks Research upgraded CarMax from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $39.21.

CarMax Trading Down 2.2%

Shares of NYSE KMX opened at $44.64 on Wednesday. CarMax has a twelve month low of $30.26 and a twelve month high of $87.70. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. The stock has a fifty day simple moving average of $43.44 and a 200-day simple moving average of $46.36. The stock has a market capitalization of $6.33 billion, a PE ratio of 14.73, a PEG ratio of 1.09 and a beta of 1.35.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd acquired a new stake in CarMax in the 2nd quarter valued at about $5,758,000. Hantz Financial Services Inc. raised its position in CarMax by 45.3% during the second quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock worth $12,893,000 after acquiring an additional 59,840 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of CarMax in the second quarter valued at about $1,887,000. True North Advisors LLC grew its position in shares of CarMax by 66.6% in the third quarter. True North Advisors LLC now owns 123,742 shares of the company’s stock valued at $5,552,000 after purchasing an additional 49,450 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in shares of CarMax by 461.3% during the 2nd quarter. AlphaQuest LLC now owns 7,174 shares of the company’s stock worth $482,000 after purchasing an additional 5,896 shares in the last quarter.

CarMax Company Profile

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.