CarMax (NYSE:KMX) Price Target Raised to $81.00

CarMax (NYSE:KMX) had its price objective raised by Royal Bank Of Canada from $80.00 to $81.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also issued reports on KMX. Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, March 26th. Wall Street Zen upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Robert W. Baird decreased their price target on shares of CarMax from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $92.00 price target on shares of CarMax in a research note on Monday. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.10.

CarMax Stock Down 2.4%

Shares of NYSE KMX opened at $67.53 on Monday. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. CarMax has a 12 month low of $61.34 and a 12 month high of $91.25. The firm has a market capitalization of $10.31 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.13 and a beta of 1.38. The firm has a fifty day simple moving average of $65.70 and a two-hundred day simple moving average of $75.12.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, June 20th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.18 by $0.20. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. Equities analysts expect that CarMax will post 3.23 earnings per share for the current year.

Insider Activity at CarMax

In related news, Director Mitchell D. Steenrod purchased 1,300 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were purchased at an average price of $65.49 per share, with a total value of $85,137.00. Following the acquisition, the director now directly owns 33,577 shares in the company, valued at $2,198,957.73. The trade was a 4.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by insiders.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC grew its position in shares of CarMax by 11.5% during the 1st quarter. Voya Investment Management LLC now owns 88,958 shares of the company’s stock valued at $6,932,000 after acquiring an additional 9,152 shares during the period. First Hawaiian Bank lifted its position in shares of CarMax by 118.8% during the 1st quarter. First Hawaiian Bank now owns 7,307 shares of the company’s stock valued at $569,000 after buying an additional 3,968 shares in the last quarter. Strs Ohio bought a new position in shares of CarMax during the 1st quarter valued at approximately $1,700,000. Acadian Asset Management LLC purchased a new stake in CarMax in the 1st quarter worth approximately $727,000. Finally, Intech Investment Management LLC increased its holdings in CarMax by 61.7% in the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock worth $1,492,000 after acquiring an additional 7,307 shares in the last quarter.

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.