CarMax’s (KMX) Sector Perform Rating Reiterated at Royal Bank Of Canada

CarMax (NYSE:KMX)‘s stock had its “sector perform” rating reiterated by Royal Bank Of Canada in a research note issued to investors on Friday, Marketbeat.com reports.

A number of other analysts have also weighed in on KMX. Morgan Stanley reduced their price objective on shares of CarMax from $80.00 to $56.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Evercore ISI lowered their price target on CarMax from $52.00 to $35.00 and set an “in-line” rating on the stock in a research note on Thursday. Stephens cut shares of CarMax from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $53.00 to $42.00 in a report on Tuesday, October 7th. Benchmark downgraded shares of CarMax from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Robert W. Baird lowered their target price on CarMax from $90.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.67.

CarMax Trading Up 0.4%

Shares of NYSE:KMX traded up $0.13 during trading on Friday, reaching $31.01. The company’s stock had a trading volume of 2,985,725 shares, compared to its average volume of 3,525,740. The stock has a market capitalization of $4.55 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26. CarMax has a 12 month low of $30.26 and a 12 month high of $91.25. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 2.87. The firm’s 50 day simple moving average is $49.75 and its two-hundred day simple moving average is $58.87.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a net margin of 1.98% and a return on equity of 8.51%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. On average, research analysts predict that CarMax will post 3.23 EPS for the current fiscal year.

Institutional Investors Weigh In On CarMax

A number of hedge funds have recently bought and sold shares of KMX. Y Intercept Hong Kong Ltd acquired a new position in shares of CarMax during the second quarter worth approximately $5,758,000. Hantz Financial Services Inc. raised its stake in CarMax by 45.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock valued at $12,893,000 after purchasing an additional 59,840 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in CarMax by 6,129.3% in the 2nd quarter. Avior Wealth Management LLC now owns 9,344 shares of the company’s stock valued at $628,000 after purchasing an additional 9,194 shares during the period. Gagnon Securities LLC grew its position in CarMax by 3.9% in the 2nd quarter. Gagnon Securities LLC now owns 163,417 shares of the company’s stock worth $10,983,000 after purchasing an additional 6,067 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of CarMax by 461.3% during the 2nd quarter. AlphaQuest LLC now owns 7,174 shares of the company’s stock worth $482,000 after purchasing an additional 5,896 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.