Market Analysts see CarMax Inc. [KMX] falling to $64. Time to buy?

CarMax Inc. [NYSE: KMX] loss -2.16% on the last trading session, reaching $60.69 price per share at the time. The company report on September 29, 2022 that CarMax Reports Second Quarter Fiscal 2023 Results.


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CarMax, Inc. (NYSE:KMX) today reported results for the second quarter ended August 31, 2022.

CarMax Inc. represents 158.80 million in outstanding shares, while the company has a total market value of $9.94 billion with the latest information. KMX stock price has been found in the range of $59.80 to $64.97.

If compared to the average trading volume of 1.74M shares, KMX reached a trading volume of 5692122 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about CarMax Inc. [KMX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KMX shares is $79.54 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KMX stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stephens have made an estimate for CarMax Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on October 03, 2022. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $146 to $100. The new note on the price target was released on September 09, 2022, representing the official price target for CarMax Inc. stock. On April 13, 2022, analysts decreased their price target for KMX shares from 130 to 110.

The Average True Range (ATR) for CarMax Inc. is set at 4.06, with the Price to Sales ratio for KMX stock in the period of the last 12 months amounting to 0.30. The Price to Book ratio for the last quarter was 1.78, with the Price to Cash per share for the same quarter was set at 0.35.

Trading performance analysis for KMX stock

CarMax Inc. [KMX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.73. With this latest performance, KMX shares dropped by -29.58% in over the last four-week period, additionally sinking by -36.97% over the last 6 months – not to mention a drop of -55.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KMX stock in for the last two-week period is set at 29.63, with the RSI for the last a single of trading hit 29.17, and the three-weeks RSI is set at 31.21 for CarMax Inc. [KMX]. The present Moving Average for the last 50 days of trading for this stock 82.78, while it was recorded at 61.48 for the last single week of trading, and 95.56 for the last 200 days.

CarMax Inc. [KMX]: A deeper dive into fundamental analysis

CarMax Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 2.80.

CarMax Inc. [KMX]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for KMX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CarMax Inc. go to 6.30%.

An analysis of insider ownership at CarMax Inc. [KMX]

There are presently around $9,858 million, in the hands of institutional investors. The top three institutional holders of KMX stocks are: VANGUARD GROUP INC with ownership of 17,849,904, which is approximately 0.9% of the company’s market cap and around 0.40% of the total institutional ownership; PRINCIPAL FINANCIAL GROUP INC, holding 10,389,224 shares of the stock with an approximate value of $630.52 million in KMX stocks shares; and BLACKROCK INC., currently with $620.81 million in KMX stock with ownership of nearly -1.721% of the company’s market capitalization.

Positions in CarMax Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 311 institutional holders increased their position in CarMax Inc. [NYSE:KMX] by around 9,782,719 shares. Additionally, 319 investors decreased positions by around 12,131,886 shares, while 122 investors held positions by with 140,513,410 shares. The mentioned changes placed institutional holdings at 162,428,015 shares, according to the latest SEC report filing. KMX stock had 60 new institutional investments in for a total of 3,340,146 shares, while 74 institutional investors sold positions of 2,291,970 shares during the same period.

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