Carmax Inc. (KMX)

Jan 24, 2022Trade Ideas

Investors may want to keep an eye on Carmax Inc. (KMX).

Not only was it one of the only stocks to rally on Friday, it’s also one of the most oversold. Plus, the last few times RSI, MACD, and Williams’ %R became this oversold, the stock pushed higher shortly after. In fact, if you pull up a two year chart, you can see these indicators called the bottom in October 2021, May 2021, October 2020, and in March 2020.

In addition, RBC Capital recently raised its price target to $157 after impressive earnings. Even Baird raised its target price from $150 to $170, considering the stock to be a “priority idea for 2022,” as noted by

In its last quarter, revenues jumped 65% year over year to $8.5 billion. Net earnings per diluted share were up 14.8% year over year to $1.63. “Our top line momentum continued into this quarter and we achieved record levels of third quarter unit sales in both retail and wholesale, generating all-time record revenues,” added President and CEO Bill Nash.

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