CarMax (NYSE:KMX) PT Raised to $75.00

CarMax (NYSE:KMX) had its target price raised by research analysts at Royal Bank of Canada from $73.00 to $75.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 3.66% from the stock’s current price.

A number of other research analysts also recently commented on the company. Needham & Company LLC dropped their price target on CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Monday. Truist Financial lifted their target price on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday. StockNews.com upgraded CarMax to a “sell” rating in a research report on Monday, April 22nd. Oppenheimer reiterated an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research report on Tuesday, April 9th. Finally, Evercore ISI reduced their price target on CarMax from $73.00 to $68.00 and set an “in-line” rating on the stock in a report on Thursday. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.50.

CarMax Stock Up 1.0 %

NYSE KMX traded up $0.72 during trading hours on Monday, reaching $72.35. 352,867 shares of the company’s stock were exchanged, compared to its average volume of 1,998,135. CarMax has a one year low of $59.66 and a one year high of $88.22. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26. The company’s 50-day moving average is $70.25 and its two-hundred day moving average is $73.88. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 1.40 and a beta of 1.69.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The business had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same quarter last year, the firm posted $1.16 EPS. The company’s quarterly revenue was down 7.5% on a year-over-year basis. On average, analysts forecast that CarMax will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the transaction, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in CarMax by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after purchasing an additional 222,132 shares during the period. Norges Bank bought a new position in shares of CarMax during the 4th quarter worth $288,278,000. Morningstar Investment Services LLC grew its stake in shares of CarMax by 95.4% during the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after acquiring an additional 1,326,840 shares during the period. Cooke & Bieler LP grew its stake in shares of CarMax by 3.1% during the 4th quarter. Cooke & Bieler LP now owns 2,344,650 shares of the company’s stock worth $179,928,000 after acquiring an additional 69,409 shares during the period. Finally, First Pacific Advisors LP grew its stake in shares of CarMax by 0.3% during the 1st quarter. First Pacific Advisors LP now owns 2,339,026 shares of the company’s stock worth $203,753,000 after acquiring an additional 7,481 shares during the period.

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.