On Sep 27, major Wall Street analysts update their ratings for $CarMax (KMX.US)$, with price targets ranging from $65 to $105.
Morgan Stanley analyst Adam Jonas maintains with a buy rating, and maintains the target price at $80.
J.P. Morgan analyst Rajat Gupta CFA maintains with a sell rating, and sets the target price at $65.
Evercore analyst Michael Montani maintains with a hold rating, and adjusts the target price from $74 to $79.
Oppenheimer analyst Brian Nagel maintains with a buy rating, and maintains the target price at $105.
Needham analyst Chris Pierce maintains with a buy rating, and adjusts the target price from $87 to $90.
Furthermore, according to the comprehensive report, the opinions of $CarMax (KMX.US)$'s main analysts recently are as follows:
CarMax's fiscal Q2 results offered a hint at stabilizing market share and growth in retail profits, yet the potential for increased loan losses and an uncertain economic environment for low to middle income consumers persist as risks. Expectations are set for a gradual stabilization in market share and an enhancement in underlying profitability, although earnings per share are anticipated to stay below the trend into calendar 2025.
The Q2 performance of CarMax revealed a combination of outcomes, with earnings falling short of expectations while revenue exceeded them. Despite a 4.3% rise in comparable retail units carrying forward into Q3, there was a notable 14% year-over-year decrease in income from CarMax Auto Finance, and signs indicate a potential deterioration in credit metrics. Although future earnings per share estimates for FY24 and FY25 have been modestly reduced, the assessment is that unit trends have begun to stabilize. Furthermore, the anticipation of lower interest rates has contributed to a more optimistic valuation through an increased earnings multiple.
Here are the latest investment ratings and price targets for $CarMax (KMX.US)$ from 8 analysts:
Note:
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