CarMax (NYSE:KMX) Given New $99.00 Price Target at Royal Bank of Canada

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

KMX has been the topic of several other research reports. BNP Paribas upgraded CarMax to a “strong sell” rating in a report on Friday, September 27th. Wedbush reissued an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Oppenheimer reissued an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of CarMax from $65.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, CarMax has an average rating of “Hold” and a consensus price target of $82.58.

CarMax Price Performance

CarMax stock traded up $3.22 on Thursday, reaching $84.64. The company’s stock had a trading volume of 2,028,177 shares, compared to its average volume of 1,920,923. CarMax has a twelve month low of $65.83 and a twelve month high of $91.25. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 1.76 and a beta of 1.71. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The business’s fifty day moving average price is $78.50 and its 200 day moving average price is $77.50.

CarMax (NYSE:KMX) last announced its quarterly earnings data 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. The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. Equities analysts expect that CarMax will post 3.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP boosted its stake in shares of CarMax by 78.6% in the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after purchasing an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of CarMax during the 3rd quarter valued at about $32,000. True Wealth Design LLC increased its stake in shares of CarMax by 4,844.4% in the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after acquiring an additional 436 shares in the last quarter. Blue Trust Inc. increased its stake in CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares in the last quarter. Finally, Studio Investment Management LLC increased its position in CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after buying an additional 334 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.