Royal Bank of Canada Raises CarMax (NYSE:KMX) Price Target to $75.00

CarMax (NYSE:KMX) had its target price upped by Royal Bank of Canada from $73.00 to $75.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on KMX. Mizuho cut their target price on shares of CarMax from $75.00 to $72.00 and set a neutral rating for the company in a report on Tuesday, June 18th. Robert W. Baird decreased their price objective on shares of CarMax from $88.00 to $84.00 and set an outperform rating for the company in a research report on Friday, April 12th. Truist Financial lifted their price target on CarMax from $66.00 to $70.00 and gave the company a hold rating in a research note on Monday. Needham & Company LLC dropped their price objective on CarMax from $91.00 to $87.00 and set a buy rating on the stock in a report on Monday. Finally, Oppenheimer reaffirmed an outperform rating and set a $105.00 target price on shares of CarMax in a research note on Tuesday, April 9th. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $75.50.

CarMax Price Performance

NYSE:KMX opened at $72.73 on Monday. The firm’s fifty day moving average is $70.45 and its two-hundred day moving average is $73.95. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.41 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. CarMax has a one year low of $59.66 and a one year high of $88.22.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The firm had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 earnings per share. Research analysts expect that CarMax will post 3.06 EPS for the current year.

Insider Activity at CarMax

In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the transaction, the executive vice president now directly owns 6,977 shares of the company’s stock, valued at approximately $485,110.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of CarMax

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of CarMax by 6.5% in the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company’s stock valued at $188,000 after acquiring an additional 131 shares during the period. Czech National Bank raised its position in CarMax by 0.5% in the fourth quarter. Czech National Bank now owns 27,789 shares of the company’s stock valued at $2,133,000 after purchasing an additional 138 shares during the period. Spire Wealth Management raised its position in CarMax by 8.3% in the fourth quarter. Spire Wealth Management now owns 1,908 shares of the company’s stock valued at $146,000 after purchasing an additional 147 shares during the period. Lindbrook Capital LLC lifted its stake in CarMax by 32.8% during the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after purchasing an additional 155 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CarMax by 0.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,223 shares of the company’s stock worth $1,782,000 after buying an additional 157 shares during the period.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.