CarMax’s (KMX) Outperform Rating Reaffirmed at Royal Bank of Canada

CarMax (NYSE:KMX)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $82.00 price objective on the stock. Royal Bank of Canada’s target price suggests a potential upside of 8.81% from the stock’s current price.

Several other equities research analysts also recently commented on KMX. StockNews.com raised shares of CarMax to a “sell” rating in a research report on Friday, July 26th. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of CarMax in a research report on Wednesday. Mizuho cut their target price on shares of CarMax from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Finally, Argus upgraded CarMax to a “hold” rating in a research note on Tuesday, June 25th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $79.45.

CarMax Trading Up 2.3 %

Shares of NYSE KMX traded up $1.69 during midday trading on Wednesday, reaching $75.36. The stock had a trading volume of 107,453 shares, compared to its average volume of 1,937,357. The company’s 50 day moving average price is $78.03 and its 200 day moving average price is $75.39. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. CarMax has a twelve month low of $59.66 and a twelve month high of $88.22. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. 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 prior year, the company posted $0.75 EPS. CarMax’s revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts expect that CarMax will post 2.97 EPS for the current year.

Insider Activity at CarMax

In related news, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total value of $801,880.42. Following the completion of the sale, the chief operating officer now owns 15,609 shares of the company’s stock, valued at $1,249,032.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the transaction, the executive vice president now owns 11,738 shares in the company, valued at approximately $965,567.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Charles Joseph Wilson sold 10,021 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $80.02, for a total value of $801,880.42. Following the transaction, the chief operating officer now directly owns 15,609 shares of the company’s stock, valued at $1,249,032.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.66% of the stock is owned by company insiders.

Institutional Trading of CarMax

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its holdings in CarMax by 29.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock worth $14,573,000 after purchasing an additional 37,660 shares during the period. State Board of Administration of Florida Retirement System increased its position in CarMax by 10.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock valued at $16,238,000 after buying an additional 17,557 shares in the last quarter. Van ECK Associates Corp raised its stake in CarMax by 38.2% during the first quarter. Van ECK Associates Corp now owns 55,800 shares of the company’s stock valued at $4,861,000 after buying an additional 15,426 shares during the last quarter. Swedbank AB bought a new stake in CarMax in the first quarter worth $1,406,000. Finally, SG Americas Securities LLC increased its holdings in shares of CarMax by 7.9% during the first quarter. SG Americas Securities LLC now owns 22,939 shares of the company’s stock valued at $1,998,000 after acquiring an additional 1,688 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.