Shares Of CarMax Inc. Exceed 52-Week High

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

CarMax Inc. KMX traded at a new 52-week high today of $144.84. This new high was reached on below-average trading volume as 459,000 shares traded hands, while the average 30-day volume is approximately 859,000 shares.

In the past 52 weeks, CarMax Inc. share prices are bracketed by a low of $84.70 and a high of $144.84 and are now at $142.94, 69% above that low price.

CarMax Inc. is currently priced 21.4% above its average consensus analyst price target of $112.33.

CarMax sells, finances, and services used and new cars through a chain of 220 used retail stores at the end of fiscal 2021 plus one new vehicle store. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales account for about 83% of revenue, wholesale about 14%, and the remaining portion is composed of extended service plans and repair.

In fiscal 2021, the company retailed and wholesaled 751,862 and 426,268 used vehicles, respectively. CarMax is the largest used vehicle retailer in the U.S., but still estimates that it has only about 3.5% U.S. market share of vehicles 0 to 10 years old but seeks over 5% by the end of calendar 2025. CarMax is based in Richmond, Virginia.

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The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.