Analysts Set CarMax, Inc. (NYSE:KMX) Target Price at $85.82

CarMax, Inc. (NYSE:KMX - Get Free Report) has been given an average rating of "Hold" by the fourteen research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $85.82.

A number of equities analysts recently weighed in on the stock. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Needham & Company LLC lowered their price objective on shares of CarMax from $101.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Evercore ISI lowered their price objective on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Robert W. Baird lowered their price objective on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th.

CarMax Stock Down 0.9%

KMX stock traded down $0.57 during midday trading on Wednesday, reaching $65.35. 2,051,854 shares of the company were exchanged, compared to its average volume of 2,256,344. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax has a 1-year low of $61.34 and a 1-year high of $91.25. The stock's 50-day simple moving average is $67.88 and its 200 day simple moving average is $76.78. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45.

Insider Activity

In other CarMax news, Director Mitchell D. Steenrod acquired 1,300 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was purchased at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the transaction, the director now owns 33,577 shares of the company's stock, valued at $2,198,957.73. The trade was a 4.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CarMax

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in CarMax by 39.7% in the 4th quarter. Blue Trust Inc. now owns 1,457 shares of the company's stock worth $113,000 after buying an additional 414 shares during the period. Chicago Partners Investment Group LLC grew its position in CarMax by 19.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 5,614 shares of the company's stock valued at $460,000 after acquiring an additional 906 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in CarMax by 5.6% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,347 shares of the company's stock valued at $519,000 after acquiring an additional 338 shares during the period. CENTRAL TRUST Co grew its position in CarMax by 575.0% in the fourth quarter. CENTRAL TRUST Co now owns 1,350 shares of the company's stock valued at $110,000 after acquiring an additional 1,150 shares during the period. Finally, E. Ohman J or Asset Management AB grew its holdings in shares of CarMax by 33.9% during the fourth quarter. E. Ohman J or Asset Management AB now owns 7,900 shares of the company's stock worth $646,000 after purchasing an additional 2,000 shares during the last quarter.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.