CarMax (KMX) Receives a New Rating from a Top Analyst

By Austin Angelo

Oppenheimer analyst Brian Nagel assigned a Buy rating to CarMax (KMXResearch Report) today and set a price target of $130.00. The company’s shares closed last Thursday at $92.92.

According to, Nagel is a top 25 analyst with an average return of 24.6% and a 75.3% success rate. Nagel covers the Consumer Goods sector, focusing on stocks such as Dick’s Sporting Goods, Lululemon Athletica, and The Lovesac Company.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for CarMax with a $121.80 average price target, a 21.7% upside from current levels. In a report issued on September 18, William Blair also reiterated a Buy rating on the stock.

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The company has a one-year high of $109.31 and a one-year low of $37.59. Currently, CarMax has an average volume of 1.13M.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KMX in relation to earlier this year. Last month, Thomas Reedy, the EVP of Finance of KMX sold 74,220 shares for a total of $7,583,800.

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CarMax, Inc. is as a holding company, which engages in the retail of used vehicles and wholesale vehicle auction operator. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) business segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations. The CAF segment provides vehicle financing to customers buying retail vehicles. The company was founded by Richard L. Sharp and William Austin Ligon in September 1993 and is headquartered in Richmond, VA.