CarMax (NYSE:KMX) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of CarMax (NYSE:KMX) from a sell rating to a hold rating in a report released on Saturday.

KMX has been the subject of a number of other reports. William Blair lowered CarMax from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 6th. Morgan Stanley set a $35.00 target price on CarMax in a report on Monday, December 8th. Truist Financial raised their target price on CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Benchmark reissued a “hold” rating on shares of CarMax in a research report on Tuesday, December 16th. Finally, Bank of America raised their price objective on shares of CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $39.64.

CarMax Price Performance

CarMax stock opened at $44.51 on Friday. The company has a fifty day simple moving average of $41.81 and a 200-day simple moving average of $47.82. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.09 and a beta of 1.29. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74. CarMax has a 52-week low of $30.26 and a 52-week high of $89.47.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. 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 analyst estimates of $5.66 billion. During the same period in the previous year, the business posted $0.81 earnings per share. CarMax’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities analysts anticipate that CarMax will post 3.23 EPS for the current fiscal year.

Institutional Investors Weigh In On CarMax

Institutional investors have recently made changes to their positions in the stock. CYBER HORNET ETFs LLC acquired a new position in shares of CarMax in the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc acquired a new stake in CarMax in the 2nd quarter valued at approximately $30,000. Center for Financial Planning Inc. purchased a new stake in CarMax in the third quarter valued at approximately $31,000. Advisory Services Network LLC acquired a new position in CarMax during the third quarter worth $32,000. Finally, True Wealth Design LLC lifted its stake in CarMax by 54.3% during the fourth quarter. True Wealth Design LLC now owns 907 shares of the company’s stock worth $35,000 after purchasing an additional 319 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.