Stephens Issues Positive Forecast for CarMax (NYSE:KMX) Stock Price

CarMax (NYSE:KMX) had its price objective increased by analysts at Stephens from $39.00 to $43.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Stephens’ price target would indicate a potential upside of 9.31% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. 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 research note on Friday, December 19th. Evercore set a $42.00 target price on CarMax in a report on Tuesday, February 10th. Mizuho dropped their price target on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, December 19th. Bank of America upped their target price on shares of CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a research note on Friday, December 19th. Finally, Barclays raised their target price on shares of CarMax from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, January 21st. One investment 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $39.71.

CarMax Trading Down 2.4%

Shares of CarMax stock opened at $39.34 on Thursday. The stock’s 50 day simple moving average is $43.34 and its 200-day simple moving average is $42.85. The stock has a market cap of $5.58 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.06 and a beta of 1.30. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.99 and a quick ratio of 0.51. CarMax has a 1-year low of $30.26 and a 1-year high of $81.79.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. World Investment Advisors grew its holdings in shares of CarMax by 1.5% during the fourth quarter. World Investment Advisors now owns 111,013 shares of the company’s stock worth $4,290,000 after purchasing an additional 1,643 shares during the last quarter. Midway Capital Research & Management purchased a new position in CarMax during the 4th quarter worth $1,625,000. Framtiden Holdings Management Co LLC acquired a new stake in CarMax in the fourth quarter valued at about $20,866,000. Van Diest Capital LLC purchased a new stake in shares of CarMax in the fourth quarter valued at approximately $226,000. Finally, Alberta Investment Management Corp purchased a new position in CarMax in the fourth quarter worth $4,326,000.

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.