CarMaxKMX
About: CarMax sells, finances, and services used and new cars through a chain of around 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales typically account for about 83% of revenue (79% in fiscal 2024 due to the chip shortage) and wholesale about 13% (19% in fiscal 2024), with the remaining portion composed of extended service plans and repair. In fiscal 2024, the company retailed and wholesaled 765,572, and 546,331 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in 2023. It seeks over 5% share a few years from now. CarMax is based in Richmond, Virginia.
Employees: 29,836
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
52% more first-time investments, than exits
New positions opened: 91 | Existing positions closed: 60
5% more funds holding in top 10
Funds holding in top 10: 22 [Q2] → 23 (+1) [Q3]
4% more funds holding
Funds holding: 696 [Q2] → 727 (+31) [Q3]
2% less capital invested
Capital invested by funds: $12.6B [Q2] → $12.3B (-$244M) [Q3]
6.83% less ownership
Funds ownership: 109.68% [Q2] → 102.85% (-6.83%) [Q3]
16% less repeat investments, than reductions
Existing positions increased: 234 | Existing positions reduced: 277
20% less call options, than puts
Call options by funds: $250M | Put options by funds: $312M
Research analyst outlook
9 Wall Street Analysts provided 1 year price targets over the past 3 months
9 analyst ratings
JP Morgan Rajat Gupta 86% 1-year accuracy 24 / 28 met price target | 15%downside $72 | Underweight Maintained | 20 Dec 2024 |
Truist Securities Scot Ciccarelli 63% 1-year accuracy 45 / 71 met price target | 4%upside $88 | Hold Maintained | 20 Dec 2024 |
RBC Capital Steven Shemesh 67% 1-year accuracy 33 / 49 met price target | 22%upside $103 | Outperform Maintained | 20 Dec 2024 |
Mizuho David Bellinger 37% 1-year accuracy 11 / 30 met price target | 5%downside $80 | Neutral Maintained | 20 Dec 2024 |
Needham Chris Pierce 52% 1-year accuracy 33 / 64 met price target | 16%upside $98 | Buy Maintained | 20 Dec 2024 |
Financial journalist opinion
Based on 24 articles about KMX published over the past 30 days
