Royal Bank of Canada Raises CarMax (NYSE:KMX) Price Target to $82.00

CarMax (NYSE:KMX) had its price target lifted by Royal Bank of Canada from $75.00 to $82.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on KMX. Argus upgraded shares of CarMax to a hold rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. boosted their target price on shares of CarMax from $55.00 to $65.00 and gave the stock an underweight rating in a research note on Thursday, September 19th. Truist Financial boosted their target price on shares of CarMax from $70.00 to $75.00 and gave the stock a hold rating in a research note on Monday, September 23rd. Oppenheimer reiterated an outperform rating and set a $105.00 target price on shares of CarMax in a research note on Monday, June 24th. Finally, Needham & Company LLC upped their price objective on shares of CarMax from $87.00 to $90.00 and gave the company a buy rating in a research note on Friday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $79.73.

CarMax Stock Down 1.1 %

Shares of NYSE KMX opened at $77.32 on Friday. The firm has a market cap of $12.07 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.56 and a beta of 1.69. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22. The business’s 50 day moving average is $79.71 and its two-hundred day moving average is $76.28.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. Research analysts predict that CarMax will post 2.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO William D. Nash sold 120,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the sale, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Enrique N. Mayor-Mora sold 9,318 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $83.46, for a total value of $777,680.28. Following the sale, the chief financial officer now directly owns 20,260 shares in the company, valued at $1,690,899.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is owned by company insiders.

Institutional Trading of CarMax

Hedge funds have recently bought and sold shares of the company. Vulcan Value Partners LLC raised its stake in CarMax by 299.7% during the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after purchasing an additional 1,369,986 shares during the period. Morningstar Investment Services LLC raised its stake in CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after purchasing an additional 1,326,840 shares during the period. DAVENPORT & Co LLC raised its stake in CarMax by 1,327.3% during the first quarter. DAVENPORT & Co LLC now owns 1,023,247 shares of the company’s stock worth $89,070,000 after purchasing an additional 951,558 shares during the period. Epoch Investment Partners Inc. raised its stake in CarMax by 3,094.0% during the first quarter. Epoch Investment Partners Inc. now owns 596,356 shares of the company’s stock worth $51,949,000 after purchasing an additional 577,685 shares during the period. Finally, Marshall Wace LLP raised its stake in CarMax by 87.6% during the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after purchasing an additional 541,967 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.