CarMax (NYSE:KMX) Price Target Raised to $74.00

CarMax (NYSE:KMX) had its price target boosted by Stephens from $66.00 to $74.00 in a research report released on Friday, Marketbeat reports. Stephens currently has an overweight rating on the stock.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada upped their target price on shares of CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 18th. Mizuho raised their price target on shares of CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Truist Financial increased their price objective on CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. raised their target price on shares of CarMax from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, September 18th. Finally, Robert W. Baird lifted their price target on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $53.15.

CarMax Price Performance

CarMax stock opened at $57.24 on Friday. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.62 and a beta of 1.17. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The business has a 50-day simple moving average of $59.51 and a 200 day simple moving average of $49.98. CarMax has a 52 week low of $30.26 and a 52 week high of $65.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KMX. State Street Corp lifted its holdings in CarMax by 5.6% in the second quarter. State Street Corp now owns 5,156,276 shares of the company’s stock valued at $272,715,000 after acquiring an additional 271,216 shares during the period. Jupiter Topco LLC bought a new position in shares of CarMax in the second quarter worth approximately $245,676,000. Primecap Management Co. CA bought a new position in CarMax in the 2nd quarter worth $230,548,000. Janus Henderson Group PLC boosted its stake in shares of CarMax by 1.1% in the first quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company’s stock worth $190,471,000 after acquiring an additional 49,987 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in CarMax by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,275,663 shares of the company’s stock worth $177,767,000 after purchasing an additional 289,768 shares during the period.

About CarMax

CarMax, Inc is a specialty retailer of used vehicles and one of the largest automotive retailers in the United States. The company sells a broad selection of used cars, trucks and sport utility vehicles through its retail locations and online platform. CarMax also purchases vehicles from consumers and other sources, providing customers with a streamlined alternative to traditional private-party sales.

In addition to retail sales, CarMax operates wholesale vehicle auctions for vehicles that do not meet its retail standards or business requirements.