CarMax (NYSE:KMX) Price Target Raised to $99.00 at Royal Bank of Canada

CarMax (NYSE:KMX) had its price target increased by Royal Bank of Canada from $92.00 to $99.00 in a note issued to investors on Thursday. The brokerage currently has an “overweight” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 16.97% from the stock’s current price.

KMX has been the subject of several other research reports. Truist Financial lifted their target price on CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Stephens initiated coverage on shares of CarMax in a research report on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of CarMax in a research report on Friday, October 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $95.00 price target on shares of CarMax in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $82.58.

CarMax Trading Up 4.0 %

Shares of CarMax stock traded up $3.22 during trading hours on Thursday, hitting $84.64. The company’s stock had a trading volume of 2,028,177 shares, compared to its average volume of 1,920,923. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. CarMax has a 1-year low of $65.83 and a 1-year high of $91.25. The company has a market capitalization of $13.11 billion, a PE ratio of 31.82, a P/E/G ratio of 1.76 and a beta of 1.71. The business has a fifty day moving average of $78.50 and a 200 day moving average of $77.50.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same period in the prior year, the company posted $0.52 EPS. CarMax’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts forecast that CarMax will post 3.01 EPS for the current year.

Institutional Trading of CarMax

Large investors have recently added to or reduced their stakes in the company. Quarry LP boosted its position in CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after purchasing an additional 184 shares during the period. Catalyst Capital Advisors LLC bought a new position in CarMax in the 3rd quarter worth approximately $32,000. True Wealth Design LLC lifted its holdings in shares of CarMax by 4,844.4% during the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after buying an additional 436 shares during the last quarter. Blue Trust Inc. grew its stake in shares of CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares during the last quarter. Finally, Studio Investment Management LLC increased its holdings in shares of CarMax by 176.7% during the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after purchasing an additional 334 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.