KMX

CarMax Inc

65.48
USD
0.58%
65.48
USD
0.58%
54.85 150.31
52 weeks
52 weeks

Mkt Cap 10.62B

Shares Out 162.11M

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How The Pieces Add Up: SPYG Targets $70

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the SPDR Portfolio S&P 500 Growth ETF (Symbol: SPYG), we found that the implied analyst target price for the ETF based upon its underlying holdings is $69.69 per unit. With SPYG trading at a recent price near $60.36 per unit, that means that analysts see 15.46% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of SPYG's underlying holdings with notable upside to their analyst target prices are Carmax Inc. (Symbol: KMX), Laboratory Corporation of America Holdings (Symbol: LH), and PTC Inc (Symbol: PTC). Although KMX has traded at a recent price of $96.27/SHARE, the average analyst target is 25.34% higher at $120.67/SHARE. Similarly, LH has 22.14% upside from the recent share price of $249.31 if the average analyst target price of $304.50/SHARE is reached, and analysts on average are expecting PTC to reach a target price of $142.18/SHARE, which is 18.98% above the recent price of $119.50. Below is a twelve month price history chart comparing the stock performance of KMX, LH, and PTC: Below is a summary table of the current analyst target prices discussed above: Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Today’s Big Picture Asia-Pacific equity indexes ended today’s session mixed. A number of markets ended the day essentially flat as Japan’s Nikkei nudged down 0.04%, Australia’s ASX All Ordinaries eked out a 0.01% gain, Hong Kong’s Hang Seng rose 0.05% and Taiwan’s TAIEX added 0.08%. South Korea’s KOSPI fell 0.61%, China’s Shanghai Composite declined 0.59% and India’s Sensex dropped 1.08%. By mid-day trading, major European equity indices are down across the board and U.S. futures point to a rough open later this morning. With a blank slate of U.S. economic data today and less than a handful of quarterly earnings reports before markets begin trading today, markets head into the height of August doldrums. This week’s retail earnings effectively closes out this quarter’s reporting season. With the release of the latest Fed minutes, we get a break until next week’s PMI updates as well as Q2 GDP which, if you’ve been following the Atlanta Fed’s GDPNow model, has been moving around a fair bit over the past few weeks, with the latest estimate at 1.6% down from the early August estimate of 2.5%. Complicating today’s trading is an estimated $2 trillion notional value of options that are expiring today. Expectations are for some turbulence as traders look to unwind or exercise their positions. With ~$975 billion of S&P 500-linked contracts and ~$430 billion of derivatives across single stocks scheduled to expire, odds are a volatile day is on deck. Data Download International Economy The annual inflation rate in Japan rose to 2.6% in July, accelerating from June’s 2.4% YoY increase. The July figure marked the 11th straight month of increase in consumer prices and the fastest pace since April 2014 due primarily to surging fuel and food costs. Hong Kong announce it will reopen one of its biggest Covid-19 isolation facilities as case numbers hit the highest in more than four months with the increase in daily infections fueled by more transmissible omicron subvariants. Annual producer inflation in Germany rose to a new record high of 37.2% YoY in July, well above the market consensus of 32% for the month and June’s 32.7% reading. Energy prices, including the distribution of natural gas and electricity, remained the biggest drivers of the year-over-year increase. Excluding energy, producer prices climbed 14.6% YoY in July. Retail Sales in the UK fell 3.4% YoY in July, the fourth consecutive declines as inflationary pressures continue to sap affordability. Domestic Economy As indicated above, today is one of those rare occasions when the U.S. economic calendar shows no data being published today. But speaking of calendars, be sure to mark August 26: That’s the day Fed Chair Powell will be speaking at the annual global central banking conference in Jackson Hole, Wyoming. Markets Investors had a little more optimism yesterday as Cisco Systems (CSCO) reported a strong quarter. The Dow was up 0.06%, the Nasdaq Composite and the S&P 500 gained 0.21% and 0.23%, respectively and the Russell 2000 gained 0.68%. Energy was the big gainer, up 2.51%. Here’s how the major market indicators stack up year-to-date: Dow Jones Industrial Average: -6.44% S&P 500: -10.12% Nasdaq Composite: -17.13% Russell 2000: -10.89% Bitcoin (BTC-USD): -52.20% Ether (ETH-USD): -51.86% Stocks to Watch Before trading kicks off for U.S.-listed equities, Buckle (BKE), Deere & Co. (DE), and Foot Locker (FL) will be among the companies issuing their latest quarterly results and guidance. Semiconductor capital equipment company Applied Materials (AMAT) bested top and bottom line expectations for its July quarter and issued in-line EPS guidance of $1.82-$2.18 for its current quarter vs. the $1.94 consensus. Shares of Bed Bath & Beyond (BYND) were hammered yet again last night following reports the company hired law firm Kirkland & Ellis to help it address a debt load that’s become unmanageable amid slumping sales. While Ross Stores (ROST) reported better than consensus bottom line results for its July quarter, revenue for the period fell 4.6% YoY to $4.58 billion, missing the $4.62 billion consensus. Comps sales for the quarter fell 7% YoY, missing the guided fall of 4%-6%. Citing the increasingly challenging and unpredictable macro-economic landscape and today's more promotional retail environment, Ross issued downside guidance for both the current quarter and its full-year relative to consensus expectations. Keurig Dr Pepper (KDP) is reportedly in talks to acquire VPX, owner of Bang Energy energy drink. The board of directors at Atlas Corp. (ATCO) formed a special committee of independent directors to evaluate the unsolicited non-binding proposal from Poseidon Acquisition Corp. received by the Board on August 4. Samsung (SSNLF) broke ground at a new semiconductor R&D complex in South Korea, where it plans to invest about 20 trillion won ($15 billion) by 2028 to drive leadership in chip technology. IPOs As of now, no IPOs are slated to be priced this week. Readers looking to dig more into the upcoming IPO calendar should visit Nasdaq’s Latest & Upcoming IPOs page. After Today’s Market Close No companies are expected to report their quarterly results after equities stop trading today. Those looking for more on which companies are reporting when, head on over to Nasdaq’s Earnings Calendar. On the Horizon Monday, August 22 US: Chicago Fed National Activity Index – July Japan: Flash Manufacturing PMI - August Eurozone: Flash Composite PMI - August US: S&P Global Flash PMI US: New Home Sales US: Richmond Manufacturing & Services Indices Wednesday, August 24 Eurozone: Consumer Confidence - August US: Weekly MBA Mortgage Applications US: Durable Orders – July US: Pending Home Sales – July US: Weekly EIA Crude Oil Inventories Thursday, August 25 South Korea: Producer Price Index – July Germany: GDP – 2Q 2022 Germany: Ifo Business Climate - August US: Weekly Initial & Continuing Jobless Claims US: PCE Price Index – 2Q 2022 US: GDP – 2Q 2022 US: Weekly EIA Natural Gas Inventories US: KC Fed Composite Index – August Friday, August 26 Japan: Tokyo CPI – August Germany: GfK Consumer Climate – September France: Consumer Confidence – August Italy: Consumer Confidence - August US: PCE Price Index – July US: Personal Income & Spending – July US: Retail Inventories ex-auto – July US: Michigan Consumer Sentiment Index (Final) – August Thought for the Day “If it is endurable, then endure it. Stop complaining.” ~ Marcus Aurelius Disclosures Deere & Co. (DE) is a constituent of the Foxberry Tematica Research Sustainable Future of Food Index The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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