Baird Rates CarMax (KMX) buy, $55 Price Target

Analyst Craig Kennison keeps a buy rating on the used-car retailer while other Wall Street firms adjust their price targets, a 5.73% upside from the current price.

By EarningsIQ Research Desk · Published Jun 18, 2026, 9:01 AM EDT · Updated Jun 24, 2026, 10:03 AM EDT

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Baird rated CarMax, Inc. ($KMX) "buy" with a $55 price target on June 18, 2026.

Since the rating, $KMX is down 1.4% after 1 week, up 4.2% after 1 month and down 0.6% to date (from the $53.66 close on Jun 18, 2026).

KMX CarMax, Inc.

$53.33 +35.73% year to date

Daily close · Oct 16, 2026

Key Points

Baird analyst Craig Kennison reiterated a buy rating on CarMax, Inc. (NYSE: KMX) with a $55.00 price target on June 18, 2026.
Baird's $55 price target implies 5.73% upside from CarMax, Inc.'s ($KMX) current $52.02 share price.
The company shares recently traded around $52.02, sitting near its 50-day moving average of $58.30.
Several Wall Street firms updated their targets recently, including B of A Securities raising its target to $65.00.

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Baird Keeps Buy Rating on CarMax Shares

Baird analyst Craig Kennison reiterated a buy rating on CarMax, Inc. (NYSE: KMX) on June 18, 2026, keeping a $55.00 price target on the used-vehicle retailer. The update arrives as Wall Street firms review their outlooks for the consumer cyclical company amid shifting retail demand in the auto sector.

12-month forecast

$KMX price target

CarMax, Inc. daily closes and this analyst's $55 target. Not advice.

CarMax Stock Trades Near Moving Averages

CarMax shares recently changed hands at $52.02. The stock has a trailing P/E ratio of 24.94 and a forward P/E ratio of 14.75 based on expected earnings. Its 50-day moving average rests at $58.30, while the 200-day moving average sits at $48.79. The company has a market capitalization of roughly $7.47 billion.

Analysts Set New Price Targets

Other major brokerage firms have also adjusted their views on CarMax following recent market updates. On October 15, 2026, B of A Securities upgraded the stock to a Buy and raised its price target to $65.00 from $50.00. On September 30, 2026, Barclays maintained an Equal-Weight rating while lifting its target to $67.00 from $61.00. UBS kept a Neutral rating on September 30, 2026, moving its target to $62.00 from $57.00. Morgan Stanley maintained an Equal-Weight rating on September 30, 2026, taking its target to $53.00 from $47.00. Truist Securities kept a Hold rating on September 30, 2026, with a target of $60.00, up from $50.00. RBC Capital maintained a Sector Perform rating on September 30, 2026, setting a $56.00 target up from $45.00. Baird also maintained an Outperform rating on September 30, 2026, with a $70.00 target. BNP Paribas reiterated an Underperform rating on September 30, 2026, raising its target to $48.00 from $33.00. Overall, the company draws coverage from 13 analysts who hold a consensus recommendation of hold.

Inside the Retail Operations of CarMax

CarMax operates through two primary divisions focused on used vehicle sales and consumer financing. The sales operations segment provides domestic, imported, luxury, hybrid, and electric vehicles, alongside wholesale auctions, extended protection plans, and vehicle repair services. The auto finance unit arranges financing options for retail customers across various credit tiers through partnerships with outside financial institutions. Founded in 1993, the company runs its headquarters out of Richmond, Virginia, and employs approximately 28,000 workers.

What to Watch Next for KMX

Investors are tracking upcoming financial reports and analyst revisions to gauge retail demand in the auto sector. The company's next earnings release is scheduled for December 17, 2026, which will provide fresh data on revenue growth, margins, and profitability.