CarMax (NYSE:KMX) PT Raised to $82.00 at Royal Bank of Canada

CarMax (NYSE:KMX) had its price objective raised by research analysts at Royal Bank of Canada from $75.00 to $82.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 6.05% from the company’s previous close.

Other analysts also recently issued research reports about the company. Oppenheimer reiterated an “outperform” rating and set a $105.00 price target on shares of CarMax in a research note on Monday, June 24th. Needham & Company LLC upped their target price on CarMax from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial increased their price target on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Evercore ISI lifted their price objective on shares of CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research note on Friday. Finally, 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. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.92.

CarMax Stock Performance

KMX opened at $77.32 on Friday. The company has a market cap of $12.07 billion, a P/E ratio of 30.20, a price-to-earnings-growth 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. The firm’s 50-day moving average price is $79.71 and its 200-day moving average price is $76.33. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22.

CarMax (NYSE:KMX) last issued its quarterly 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). CarMax had a net margin of 1.55% and a return on equity of 6.64%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts anticipate that CarMax will post 2.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William D. Nash sold 120,000 shares of the business’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 value of $9,554,400.00. Following the completion of 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 this link. In other news, CEO William D. Nash sold 120,000 shares of the 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 transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,012 shares of company stock worth $14,803,843. 1.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CarMax

Several institutional investors have recently bought and sold shares of KMX. First Community Trust NA acquired a new position in shares of CarMax during the second quarter valued at approximately $29,000. Quarry LP raised its stake in CarMax by 78.6% in the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after purchasing an additional 184 shares during the last quarter. Blue Trust Inc. raised its stake in CarMax by 134.1% in the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares during the last quarter. Studio Investment Management LLC lifted its holdings in CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in CarMax during the 1st quarter worth $55,000.

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.