CarMax (NYSE:KMX) Stock Rating Upgraded by Zacks Research

CarMax (NYSE:KMX) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports. Zacks Research also issued estimates for CarMax’s Q2 2028 earnings at $0.97 EPS, Q3 2028 earnings at $0.84 EPS, FY2028 earnings at $3.11 EPS and Q1 2029 earnings at $1.13 EPS.

A number of other equities analysts have also commented on KMX. UBS Group set a $60.00 price target on shares of CarMax in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised shares of CarMax from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $38.00 to $60.00 in a report on Wednesday, July 29th. Morgan Stanley lifted their target price on shares of CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. Robert W. Baird boosted their target price on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Finally, Royal Bank Of Canada raised their price target on CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $51.00.

CarMax Stock Performance

CarMax stock opened at $58.71 on Tuesday. The firm has a market capitalization of $8.33 billion, a P/E ratio of 38.37, a P/E/G ratio of 2.66 and a beta of 1.15. The stock has a fifty day moving average price of $54.11 and a two-hundred day moving average price of $46.31. CarMax has a 52-week low of $30.26 and a 52-week high of $62.56. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82.

CarMax (NYSE:KMX) last issued its earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. The company had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 EPS. As a group, analysts anticipate that CarMax will post 2.73 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, Director Sona Chawla bought 2,000 shares of CarMax stock in a transaction dated Thursday, June 25th. The shares were bought at an average cost of $53.39 per share, with a total value of $106,780.00. Following the acquisition, the director owned 21,702 shares in the company, valued at $1,158,669.78. This trade represents a 10.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter J. Bensen purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the transaction, the director directly owned 24,796 shares of the company’s stock, valued at $1,294,351.20. This trade represents a 11.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 13,900 shares of company stock valued at $735,574 in the last three months. Corporate insiders own 1.01% of the company’s stock.

Institutional Investors Weigh In On CarMax

Several institutional investors and hedge funds have recently bought and sold shares of KMX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CarMax by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after acquiring an additional 173 shares in the last quarter. Jones Financial Companies Lllp raised its position 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. Empowered Funds LLC lifted its stake in CarMax by 12.5% during the first quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after purchasing an additional 585 shares during the last quarter. Intech Investment Management LLC lifted its stake in CarMax by 61.7% during the first quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock worth $1,492,000 after purchasing an additional 7,307 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of CarMax in the 1st quarter valued at $727,000.

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.