CarMax (NYSE:KMX) PT Raised to $75.00 at Royal Bank of Canada

CarMax (NYSE:KMX) had its price target raised by investment analysts at Royal Bank of Canada from $73.00 to $75.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 4.50% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and issued a $80.00 target price on shares of CarMax in a research note on Friday, June 21st. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of CarMax in a research note on Tuesday, June 18th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research note on Tuesday, April 9th. Bank of America upped their price objective on shares of CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Finally, Evercore ISI decreased their price objective on shares of CarMax from $73.00 to $68.00 and set an “in-line” rating on the stock in a research note on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $75.50.

CarMax Stock Down 1.9 %

Shares of KMX opened at $71.77 on Monday. The firm has a market capitalization of $11.30 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.41 and a beta of 1.69. The company has a 50-day simple moving average of $70.36 and a 200-day simple moving average of $73.95. CarMax has a 52 week low of $59.66 and a 52 week high of $88.22. 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 (NYSE:KMX) last posted its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.16 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 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 earnings per share. On average, equities research analysts expect that CarMax will post 3.06 earnings per share for the current year.

Insider Transactions at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the company’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 transaction of $1,067,702.68. Following the transaction, the executive vice president now directly owns 6,977 shares in the company, valued at $485,110.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On CarMax

A number of large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale lifted its holdings in CarMax by 1.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 31,039 shares of the company’s stock valued at $2,682,000 after buying an additional 498 shares during the period. Cetera Advisors LLC lifted its holdings in CarMax by 48.7% in the first quarter. Cetera Advisors LLC now owns 9,178 shares of the company’s stock valued at $799,000 after buying an additional 3,004 shares during the period. Cetera Investment Advisers lifted its holdings in CarMax by 942.3% in the first quarter. Cetera Investment Advisers now owns 125,790 shares of the company’s stock valued at $10,958,000 after buying an additional 113,721 shares during the period. Atria Investments Inc lifted its holdings in CarMax by 11.6% in the first quarter. Atria Investments Inc now owns 41,221 shares of the company’s stock valued at $3,591,000 after buying an additional 4,286 shares during the period. Finally, Swedbank AB acquired a new position in CarMax in the first quarter valued at approximately $1,406,000.

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.