B of A Securities Rates CarMax (KMX) sell, $45 Price Target

B of A Securities Reaffirms Sell View on CarMax Shares

B of A Securities analyst John Murphy kept a cautious stance on CarMax, Inc. NYSE: KMX on June 18, 2026, reiterating a sell rating and a $45.00 price target. The stated target sits below where shares currently change hands, prompting market watchers to examine the gap between current valuations and Wall Street expectations. Murphy previously covered other retail and transport equities before turning attention to the used vehicle retailer.

Where CarMax Stock Trades Right Now

CarMax shares recently changed hands at $52.02 on Thursday. That price positions the equity between its 52-week low of $30.26 and its 52-week high of $65.28. The current spot price trades above its 200-day moving average of $48.79, while resting below its 50-day moving average of $58.30. The company carries a price-to-earnings ratio of 24.94 based on trailing results, alongside a forward price-to-earnings ratio of 14.75.

Wall Street Views and Recent Rating Updates

Wall Street firms have frequently adjusted their models for the auto retailer through the autumn months. On October 15, 2026, B of A Securities itself shifted tone to upgrade the stock to a buy rating with a $65.00 target, moving up from a prior $50.00 objective. Earlier on September 30, 2026, Barclays maintained an equal-weight rating while raising its target to $67.00 from $61.00. UBS kept a neutral rating with a $62.00 target on September 30, 2026, moving from a previous $57.00 level. Morgan Stanley held an equal-weight rating with a $53.00 target on September 30, 2026, up from $47.00. Truist Securities also maintained a hold rating with a $60.00 target on September 30, 2026, moving from $50.00. RBC Capital kept a sector perform rating with a target of $56.00 on September 30, 2026, shifting from $45.00. Baird maintained an outperform rating with a $70.00 target on September 30, 2026, up from $64.00. BNP Paribas reiterated an underperform rating with a $48.00 target on September 30, 2026, shifting from $33.00. Across 13 analyst opinions, the stock currently carries a consensus recommendation of hold and an average price target of $63.77.

Inside the Retailer's Operations

CarMax operates as a retailer of used vehicles and related services in the United States, managing both sales operations and an auto finance arm. The enterprise handles vehicle reconditioning, wholesale auctions, and extended protection plans alongside customer financing alternatives. Headquartered in Richmond, Virginia, the firm employs roughly 28,000 workers across its retail footprint.

Upcoming Catalysts to Watch

Investors will watch for the company's next scheduled earnings report on December 17, 2026, to gauge retail demand and financing segment performance. Market participants continue to monitor how used car pricing trends and interest rate shifts impact dealership traffic. Brokerage targets will likely adjust further as new quarterly data becomes available.