CarMax (NYSE:KMX) Given New $75.00 Price Target at Royal Bank of Canada

CarMax (NYSE:KMX) had its price target boosted by research analysts at Royal Bank of Canada from $73.00 to $75.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 3.66% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Truist Financial lifted their price target on shares of CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday. Evercore ISI reduced their target price on shares of CarMax from $73.00 to $68.00 and set an “in-line” rating on the stock in a report on Thursday. Bank of America lifted their target price on shares of CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. reduced their target price on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Monday, April 15th. Finally, Wedbush restated an “outperform” rating and set a $90.00 target price on shares of CarMax in a report on Tuesday, June 18th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.50.

CarMax Trading Up 1.0 %

KMX stock traded up $0.72 during midday trading on Monday, hitting $72.35. The stock had a trading volume of 352,867 shares, compared to its average volume of 1,998,135. The firm has a market cap of $11.39 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.40 and a beta of 1.69. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.26 and a quick ratio of 0.67. CarMax has a 12-month low of $59.66 and a 12-month high of $88.22. The company’s 50-day moving average price is $70.25 and its 200 day moving average price is $73.88.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.16 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. CarMax’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the business earned $1.16 EPS. On average, equities research analysts predict that CarMax will post 3.06 earnings per share for the current fiscal year.

Insider Transactions at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the sale, the executive vice president now owns 6,977 shares of the company’s stock, valued at approximately $485,110.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Institutional investors have recently modified their holdings of the business. Allworth Financial LP grew its position in shares of CarMax by 153.3% during the 4th quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after buying an additional 207 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of CarMax by 1,081.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after buying an additional 400 shares during the last quarter. Mendota Financial Group LLC bought a new stake in shares of CarMax during the 4th quarter valued at about $37,000. MCF Advisors LLC bought a new stake in shares of CarMax during the 4th quarter valued at about $46,000. Finally, Lindbrook Capital LLC grew its position 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 last quarter.

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.