CarMax Inc ($KMX) Stock Forecast: Down 9.6% Today

What is CarMax Inc?

CarMax Inc. (KMX) is a well-known company in the automotive retail industry, providing a wide range of new and used vehicles to customers. Today, the stock experienced a significant bearish movement in the market.

Why is CarMax Inc going down?

KMX stock is down 9.6% on Feb 12, 2026 18:02

• The appointment of Keith Barr, a seasoned executive with expertise in customer experience and digital transformation, as the new President and CEO of CarMax, was expected to bring positive changes to the company, despite the market's negative reaction.
• The exit of Wallace Weitz, a prominent investor, from CarMax Inc. and the impact on the portfolio by -1.58% could have contributed to the bearish movement, prompting investors to sell CarMax shares.
• Despite Keith Barr's strong leadership background, investors may be wary of challenges in the automotive retail sector and CarMax's strategies to stand out from competitors like Carvana.
• The market sentiment towards CarMax could also be influenced by broader economic factors or industry trends affecting the automotive retail sector, contributing to the bearish trend in today's trading session.

KMX Price Chart

KMX Technical Analysis

KMX News

CarMax, with eyes on Carvana, taps hotel executive known for customer experience, digital transformation as new CEO

CarMax has appointed Keith Barr, former CEO of InterContinental Hotels Group, as its new president and CEO, effective March 16. Barr is known for his expertise in customer experience and digital transformation, which CarMax hopes will help it compete with companies like Carvana. He previously led a global hotel chain with over 345,000 employees across 6,000 properties.

https://www.autonews.com/retail/an-new-carmax-ceo-0212/

CarMax names Keith Barr as chief executive officer

CarMax Inc. has appointed Keith Barr as its new President and Chief Executive Officer, effective March 16, 2026. Barr previously served as CEO of InterContinental Hotels Group and is currently on the board of MGM Resorts. This appointment follows Bill Nash's stepping down in November 2025, with current interim CEO David McCreight returning to his role as an independent director and Tom Folliard remaining as interim executive chair until June 2026.

https://www.12onyourside.com/2026/02/12/carmax-names-keith-barr-chief-executive-officer/

CarMax names Keith Barr as chief executive officer

CarMax Inc. has appointed Keith Barr as its new President and Chief Executive Officer, effective March 16, 2026, succeeding Bill Nash. Barr previously served as CEO of InterContinental Hotels Group and is currently on the board of MGM Resorts. David McCreight, interim president and CEO, will return to his role as an independent director, while Tom Folliard will remain interim executive chair until June 2026.

https://www.nbc12.com/2026/02/12/carmax-names-keith-barr-chief-executive-officer/

Wallace Weitz Exits CarMax Inc, Impacting Portfolio by -1.58%

Wallace Weitz submitted his 13F filing for Q4 2025, revealing significant changes to his portfolio. He completely exited four holdings, most notably CarMax Inc (KMX), and reduced stakes in 17 others, including Charter Communications Inc (CHTR) and Alphabet Inc (GOOG). Conversely, he added Euronet Worldwide Inc (EEFT) and increased positions in 12 stocks, with the largest increase in Liberty Broadband Corp (LBRDK).

https://www.gurufocus.com/news/8610905/wallace-weitz-exits-carmax-inc-impacting-portfolio-by-158

CarMax appoints Keith Barr as president and chief executive officer

CarMax, Inc. (NYSE: KMX) has appointed Keith Barr as its new president and chief executive officer, effective March 16, 2026. Barr, who also joins the company's board, previously served as CEO of InterContinental Hotels Group and is credited with enhancing customer experience and leading digital transformations. David McCreight will return to his role as an independent director, while Tom Folliard will remain interim executive chair until June 2026.

https://news.alphastreet.com/carmax-appoints-keith-barr-as-president-and-chief-executive-officer/?utm_source=rss&utm_medium=rss&utm_campaign=carmax-appoints-keith-barr-as-president-and-chief-executive-officer

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CarMax Inc Price History

19.11.2025 - KMX Stock was down 8.7%

• CarMax (KMX) reported Q3 earnings that surpassed expectations but showed a decline in revenues year-over-year, leading to investor concerns about the company's growth prospects.
• The ongoing securities class action lawsuits against CarMax alleging overstated growth prospects due to tariff speculation have likely contributed to the negative sentiment surrounding the stock.
• The evaluation of GM's Sterling Anderson as a potential CEO successor indicates a shift towards technology leadership in the automotive industry, possibly impacting investor confidence in traditional dealership models like CarMax.
• The disappointing financial results reported by CarMax for the second quarter of fiscal year 2026 have further fueled uncertainties among shareholders, triggering a significant drop in the stock price.

12.01.2026 - KMX Stock was down 5.6%

• The bearish movement in CarMax Inc's stock price could be attributed to the uncertainty surrounding the company's strategic direction and leadership transition.
• The market may be reacting negatively to the news of a CEO from outside the auto industry taking the helm, signaling a departure from traditional leadership in the sector.
• Investors might be cautious due to recent disappointing financial results and layoffs at CarMax, looking for reassurance that the new CEO can navigate the company through its challenges and drive future growth effectively.

12.01.2026 - KMX Stock was down 9.6%

• The appointment of Keith Barr, a seasoned executive with expertise in customer experience and digital transformation, as the new President and CEO of CarMax, was expected to bring positive changes to the company, despite the market's negative reaction.
• The exit of Wallace Weitz, a prominent investor, from CarMax Inc. and the impact on the portfolio by -1.58% could have contributed to the bearish movement, prompting investors to sell CarMax shares.
• Despite Keith Barr's strong leadership background, investors may be wary of challenges in the automotive retail sector and CarMax's strategies to stand out from competitors like Carvana.
• The market sentiment towards CarMax could also be influenced by broader economic factors or industry trends affecting the automotive retail sector, contributing to the bearish trend in today's trading session.

14.00.2026 - KMX Stock was up 7.5%

• CarMax (KMX) experienced a strong bullish movement today.
• The bullish trend could be attributed to the company's strategic decisions to optimize operations and resources, as highlighted in the consolidation of multiple locations into higher-performing dealerships.
• Additionally, positive news in the automotive industry, such as the upgrade of a competitor by Loop Capital, may have positively influenced investor sentiment towards CarMax.
• The ongoing securities investigation urged by a legal firm could have created some uncertainty in the market, but it seems that investors are focusing more on the company's operational improvements and industry trends.

07.00.2026 - KMX Stock was up 5.9%

• CarMax cutting prices and margins on used cars while increasing marketing spend to drive unit sales seemed to resonate well with investors, resulting in a bullish movement in the stock.
• The strategic shift to make vehicles more affordable and reduce overall expenses by $150 million annually reflects a proactive approach by CarMax to address declining sales and earnings, likely boosting investor confidence.
• The positive outlook for the used car market, with projected growth through 2033, could have also contributed to the bullish sentiment surrounding CarMax, aligning with the company's focus on this segment of the automotive industry.
• General Motors' mixed performance in the fourth quarter, with a decline in sales but strong full-year results, may have indirectly influenced investor sentiment towards CarMax, highlighting competitive dynamics within the automotive sector.

07.00.2026 - KMX Stock was up 6.2%

• CarMax experienced a strong bullish movement today, outperforming its competitors despite the overall market trend.
• The bullish movement can be attributed to the positive outlook for the used car market, as projected significant growth through 2033.
• Additionally, the news of a major shareholder selling shares of a competitor might have indirectly impacted CarMax's stock positively, as investors may have shifted their focus towards companies with stronger growth prospects.
• The ongoing investigations into potential breaches of fiduciary duties by certain officers and directors of CarMax and other companies did not seem to have a negative impact on the stock today.

21.10.2025 - KMX Stock was up 5.4%

• The bullish movement in KMX stock could be attributed to CarMax's recent expansion into Arkansas, hinting at growth and revenue potential.
• Despite a class action lawsuit, demand concerns, and CEO departure, investors appear optimistic about CarMax's resilience and market position.
• The market may be reacting positively to the job creation aspect of CarMax's expansion to 42 states, indicating economic growth possibilities for the company.
• Investors seem more interested in CarMax's expansion and growth prospects rather than its current legal challenges, influencing the stock's upward trajectory.

25.10.2025 - KMX Stock was up 5.4%

• Despite ongoing legal challenges involving securities fraud allegations, CarMax's stock price saw a significant rise.
• The surge in stock value may be influenced by an upgrade in Carvana's stock by Wedbush, pointing towards a positive market sentiment within the automotive industry.
• Investors seem to hold positive expectations for CarMax's future performance, potentially overlooking the company's current legal hurdles.
• This sudden upward movement in stock value could be driven by market speculation or short-term trading strategies rather than reflecting the company's underlying financial performance.

08.00.2026 - KMX Stock was up 5.1%

• CarMax's stock surged following the company's strategy to reduce prices and margins on used cars, ramp up marketing expenses, and lower overall costs to drive unit sales and increase affordability for customers.
• This shift in approach comes after a period of sales and earnings decline, prompting recent changes in senior leadership.
• The market responded positively to these strategic changes, possibly expecting an improvement in CarMax's financial performance and growth opportunities, leading to today's bullish movement in the stock price.

04.01.2026 - KMX Stock was up 5.2%

• CarMax's bullish movement today is due to the positive recognition from TIME Magazine as one of America's Most Iconic Companies. This showcases its brand recognition, cultural influence, and commitment to transparency and innovation in the used car market.
• The market responded favorably to CarMax's strategic initiatives, including new pricing and marketing strategies, significant cost-cutting measures, and layoffs to address a recent sales slump. Investors may view these actions as proactive steps towards revitalizing sales and improving the company's financial performance.
• Despite facing challenges such as declining retail sales and profit margins, the news of BML Capital Management's substantial investment in CarMax, with a $6 million bet on a potential turnaround, likely instilled confidence in the market about the company's future prospects, contributing to today's bullish movement.

20.10.2025 - KMX Stock was up 5.2%

• Despite a class action lawsuit and challenges in demand, along with the departure of the CEO, CarMax's stock showed a strong bullish movement.
• The market's positive response may stem from potential resolutions or strategies introduced by the company to tackle legal and operational issues.
• Investor optimism about CarMax's ability to navigate legal troubles and management changes could be driving the stock's upward trend.
• This unforeseen market reaction suggests that investors perceive the lawsuit and CEO departure to have a less severe impact on CarMax's long-term prospects than initially anticipated.

10.11.2025 - KMX Stock was up 5.7%

• Investors may consider the recent legal issues and fraud accusations as temporary hurdles for CarMax, leading to the surge in the stock price.
• Despite the unfavorable Q2 Fiscal Year 2026 financial results and stock decline, the current stock price might have attracted investors, prompting increased demand and the upward movement in the market.
• The company's ability to navigate challenges and remain resilient could have boosted investor confidence, contributing to the favorable market performance witnessed today.