CarMax (NYSE:KMX) PT Raised to $75.00

CarMax (NYSE:KMX) had its price target raised by Royal Bank of Canada from $73.00 to $75.00 in a research note published on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

KMX has been the subject of a number of other reports. Evercore ISI reduced their price target on shares of CarMax from $73.00 to $68.00 and set an in-line rating for the company in a research report on Thursday, June 20th. Bank of America lifted their price objective on CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a research report on Thursday, February 29th. StockNews.com raised CarMax to a sell rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. dropped their price objective on CarMax from $60.00 to $55.00 and set an underweight rating for the company in a report on Monday, April 15th. Finally, Needham & Company LLC dropped their price objective on CarMax from $91.00 to $87.00 and set a buy rating for the company in a report on Monday. Three 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. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $75.50.

CarMax Stock Performance

NYSE KMX opened at $73.33 on Monday. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22. The business’s 50-day moving average price is $70.56 and its 200 day moving average price is $73.94. The firm has a market cap of $11.54 billion, a P/E ratio of 28.64, a P/E/G ratio of 1.41 and a beta of 1.69.

CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same quarter last year, the company posted $1.16 earnings per share. The business’s revenue was down 7.5% on a year-over-year basis. On average, equities research analysts expect that CarMax will post 3.06 earnings per share for the current year.

Insider Activity

In other news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction dated 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 owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CarMax news, SVP Jon G. Daniels sold 1,231 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total value of $89,198.26. Following the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at $72,097.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diane L. Cafritz sold 15,356 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the transaction, the executive vice president now directly owns 6,977 shares in the company, valued at approximately $485,110.81. The disclosure for this sale can be found here. Insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Several large investors have recently made changes to their positions in the company. Allworth Financial LP increased its stake in shares of CarMax by 153.3% during the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after acquiring an additional 207 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in CarMax by 1,081.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock worth $34,000 after purchasing an additional 400 shares during the period. Mendota Financial Group LLC acquired a new position in CarMax in the 4th quarter worth approximately $37,000. MCF Advisors LLC acquired a new position in CarMax in the 4th quarter worth approximately $46,000. Finally, Lindbrook Capital LLC boosted its stake in shares of CarMax by 32.8% during the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock valued at $48,000 after buying an additional 155 shares during the period.

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.