Royal Bank of Canada Reiterates Outperform Rating for CarMax (NYSE:KMX)

CarMax (NYSE:KMX - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They presently have a $82.00 price target on the stock. Royal Bank of Canada's price target would indicate a potential upside of 9.45% from the company's current price.

KMX has been the topic of several other reports. Truist Financial upped their target price on CarMax from $70.00 to $75.00 and gave the company a "hold" rating in a research report on Monday, September 23rd. Wedbush reaffirmed an "outperform" rating and set a $95.00 target price on shares of CarMax in a research report on Wednesday. Morgan Stanley reaffirmed an "overweight" rating and set a $80.00 target price on shares of CarMax in a research report on Friday, June 21st. Evercore ISI cut their price objective on CarMax from $79.00 to $76.00 and set an "in-line" rating on the stock in a report on Thursday, October 3rd. Finally, Mizuho cut their price objective on CarMax from $75.00 to $72.00 and set a "neutral" rating on the stock in a report on Tuesday, June 18th. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, CarMax currently has a consensus rating of "Hold" and an average price target of $79.45.

CarMax Stock Performance

NYSE:KMX traded up $1.25 on Wednesday, hitting $74.92. The stock had a trading volume of 716,798 shares, compared to its average volume of 1,940,404. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68. The business's 50-day simple moving average is $78.03 and its two-hundred day simple moving average is $75.39.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business's revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. As a group, research analysts predict that CarMax will post 2.97 earnings per share for the current year.

Insider Buying and Selling at CarMax

In related news, EVP Mohammad Shamim sold 25,000 shares of the business's stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $82.26, for a total value of $2,056,500.00. Following the completion of the sale, the executive vice president now directly owns 11,738 shares of the company's stock, valued at $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of CarMax stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total value of $2,056,500.00. Following the transaction, the executive vice president now owns 11,738 shares in the company, valued at approximately $965,567.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Charles Joseph Wilson sold 10,021 shares of the firm's stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $80.02, for a total transaction of $801,880.42. Following the completion of the transaction, the chief operating officer now directly owns 15,609 shares of the company's stock, valued at $1,249,032.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.66% of the stock is currently owned by corporate insiders.

Institutional Trading of CarMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KMX. Vanguard Group Inc. raised its stake in shares of CarMax by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company's stock worth $1,387,222,000 after buying an additional 222,132 shares during the last quarter. CWM LLC raised its stake in shares of CarMax by 149.7% during the first quarter. CWM LLC now owns 10,482 shares of the company's stock worth $913,000 after buying an additional 6,285 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of CarMax by 6.5% during the first quarter. GAMMA Investing LLC now owns 2,156 shares of the company's stock worth $188,000 after buying an additional 131 shares during the last quarter. Mather Group LLC. bought a new stake in shares of CarMax during the first quarter worth approximately $138,000. Finally, Park Avenue Securities LLC raised its stake in shares of CarMax by 61.2% during the first quarter. Park Avenue Securities LLC now owns 14,154 shares of the company's stock worth $1,233,000 after buying an additional 5,376 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.