CarMax (NYSE:KMX) PT Raised to $82.00

CarMax (NYSE:KMX) had its price target lifted by stock analysts at Royal Bank of Canada from $75.00 to $82.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 4.14% from the company’s current price.

Several other research firms have also recently issued reports on KMX. Truist Financial increased their price objective on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday. Needham & Company LLC increased their price target on CarMax from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com raised CarMax to a “sell” rating in a research note on Friday, July 26th. Oppenheimer restated an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a report on Monday, June 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $95.00 target price on shares of CarMax in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $78.92.

CarMax Stock Performance

Shares of NYSE:KMX traded up $0.53 on Friday, hitting $78.74. The company’s stock had a trading volume of 128,644 shares, compared to its average volume of 1,938,728. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 1.56 and a beta of 1.69. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.60 and a current ratio of 2.50. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. The stock’s 50-day moving average is $79.76 and its two-hundred day moving average is $76.40.

CarMax (NYSE:KMX) last posted 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). The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS. On average, equities research analysts forecast that CarMax will post 2.99 EPS for the current year.

Insiders Place Their Bets

In other CarMax news, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $14,465,600.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP John M. Stuckey III sold 19,673 shares of CarMax stock in a transaction on Monday, July 15th. The stock was sold at an average price of $82.01, for a total transaction of $1,613,382.73. Following the transaction, the senior vice president now owns 969 shares in the company, valued at $79,467.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Nash sold 120,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at $14,465,600.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,012 shares of company stock worth $14,803,843. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

A number of institutional investors have recently bought and sold shares of KMX. Centaurus Financial Inc. boosted its holdings in shares of CarMax by 49.9% during the second quarter. Centaurus Financial Inc. now owns 6,861 shares of the company’s stock worth $503,000 after purchasing an additional 2,284 shares during the period. Sanctuary Advisors LLC acquired a new position in CarMax in the 2nd quarter valued at approximately $814,000. Cetera Investment Advisers boosted its stake in shares of CarMax by 12.3% during the 2nd quarter. Cetera Investment Advisers now owns 141,266 shares of the company’s stock valued at $10,360,000 after buying an additional 15,476 shares during the period. Truist Financial Corp boosted its stake in shares of CarMax by 1.3% during the 2nd quarter. Truist Financial Corp now owns 74,647 shares of the company’s stock valued at $5,475,000 after buying an additional 951 shares during the period. Finally, Quarry LP grew its holdings in shares of CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after acquiring an additional 184 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.