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

CarMax (NYSE:KMX) had its target price upped by Royal Bank of Canada from $75.00 to $82.00 in a research note published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on KMX. Wedbush reaffirmed an outperform rating and issued a $95.00 price objective on shares of CarMax in a report on Tuesday, September 17th. JPMorgan Chase & Co. increased their price objective on CarMax from $55.00 to $65.00 and gave the stock an underweight rating in a research report on Thursday, September 19th. Argus raised CarMax to a hold rating in a report on Tuesday, June 25th. Morgan Stanley reiterated an overweight rating and issued a $80.00 price objective on shares of CarMax in a research note on Friday, June 21st. Finally, Truist Financial upped their target price on shares of CarMax from $70.00 to $75.00 and gave the stock a hold rating in a research report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $79.73.

CarMax Trading Up 0.1 %

NYSE:KMX opened at $77.38 on Friday. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a current ratio of 2.50, a quick ratio of 0.60 and a debt-to-equity ratio of 2.95. The stock’s 50 day simple moving average is $79.64 and its 200-day simple moving average is $76.26. The firm has a market cap of $12.08 billion, a P/E ratio of 30.23, a PEG ratio of 1.56 and a beta of 1.69.

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

Insiders Place Their Bets

In other news, EVP Mohammad Shamim sold 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $965,567.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the transaction, the executive vice president now owns 11,738 shares of the company’s stock, valued at $965,567.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 90 days, insiders sold 184,012 shares of company stock valued at $14,803,843. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Several institutional investors have recently added to or reduced their stakes in KMX. CANADA LIFE ASSURANCE Co increased its stake in shares of CarMax by 29.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock valued at $14,573,000 after acquiring an additional 37,660 shares during the last quarter. Fairview Capital Investment Management LLC increased its position in CarMax by 7.0% during the fourth quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company’s stock worth $19,302,000 after purchasing an additional 16,438 shares during the last quarter. Quadrature Capital Ltd purchased a new position in CarMax during the fourth quarter worth approximately $5,637,000. State Board of Administration of Florida Retirement System raised its stake in CarMax by 10.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock worth $16,238,000 after purchasing an additional 17,557 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of CarMax by 38.2% in the 1st quarter. Van ECK Associates Corp now owns 55,800 shares of the company’s stock valued at $4,861,000 after purchasing an additional 15,426 shares during the last quarter.

About CarMax

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.