CarMax (NYSE:KMX) Given New $47.00 Price Target at Truist Financial

CarMax (NYSE:KMX) had its price objective boosted by stock analysts at Truist Financial from $37.00 to $47.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential downside of 10.82% from the company’s current price.

KMX has been the subject of several other reports. Argus upgraded CarMax to a “hold” rating in a research report on Thursday, April 16th. Barclays upped their price objective on CarMax from $26.00 to $31.00 and gave the stock an “underweight” rating in a research report on Friday. Robert W. Baird lifted their target price on shares of CarMax from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Bank of America initiated coverage on shares of CarMax in a research note on Wednesday, April 15th. They issued an “underperform” rating and a $40.00 target price for the company. Finally, Wall Street Zen raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, fourteen have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $42.40.

CarMax Stock Performance

Shares of NYSE:KMX traded up $0.49 during midday trading on Tuesday, reaching $52.70. The company’s stock had a trading volume of 462,521 shares, compared to its average volume of 3,340,954. The company has a quick ratio of 0.49, a current ratio of 2.20 and a debt-to-equity ratio of 2.93. The stock has a fifty day moving average of $42.05 and a 200 day moving average of $42.29. CarMax has a twelve month low of $30.26 and a twelve month high of $71.99. The firm has a market capitalization of $7.47 billion, a PE ratio of 32.94, a P/E/G ratio of 1.95 and a beta of 1.21.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.22 by $0.12. The company had revenue of $5.95 billion for the quarter, compared to analyst estimates of $5.65 billion. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 earnings per share. On average, equities analysts expect that CarMax will post 2.28 EPS for the current fiscal year.

Institutional Investors Weigh In On CarMax

Institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its holdings in CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after purchasing an additional 161 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CarMax by 0.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after purchasing an additional 173 shares in the last quarter. Blue Trust Inc. raised its position in shares of CarMax by 20.0% during the 4th quarter. Blue Trust Inc. now owns 1,424 shares of the company’s stock worth $55,000 after purchasing an additional 237 shares during the last quarter. Huntington National Bank raised its position in shares of CarMax by 62.4% during the 4th quarter. Huntington National Bank now owns 690 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. Finally, Ossiam lifted its stake in CarMax by 19.5% in the 2nd quarter. Ossiam now owns 1,713 shares of the company’s stock valued at $115,000 after buying an additional 280 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.