CarMax, Inc (KMX) Earns Market Perform Rating from Royal Bank of Canada

CarMax, Inc (NYSE:KMX)‘s stock had its “market perform” rating reiterated by equities research analysts at Royal Bank of Canada in a research report issued on Thursday. They currently have a $63.00 target price on the stock, down from their previous target price of $71.00. Royal Bank of Canada’s target price would indicate a potential upside of 8.04% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Tuesday, February 21st. Credit Suisse Group AG set a $75.00 price target on shares of CarMax and gave the company a “buy” rating in a report on Sunday, December 25th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of CarMax in a report on Wednesday, April 5th. Wedbush restated a “neutral” rating and set a $55.00 target price on shares of CarMax in a report on Monday, December 19th. Finally, Vetr upgraded shares of CarMax from a “buy” rating to a “strong-buy” rating and set a $69.00 target price on the stock in a report on Wednesday, December 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $66.17.

Analyst Recommendations for CarMax (NYSE:KMX)

Shares of CarMax (NYSE:KMX) traded down 0.83% during midday trading on Thursday, hitting $58.31. 2,821,382 shares of the company were exchanged. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 17.89 and a beta of 1.34. CarMax has a one year low of $45.06 and a one year high of $69.11. The firm’s 50 day moving average price is $60.03 and its 200 day moving average price is $60.15.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, April 6th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.79 by $0.02. CarMax had a net margin of 3.96% and a return on equity of 21.02%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts forecast that CarMax will post $3.51 EPS for the current fiscal year.

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In other CarMax news, COO William C. Jr. Wood sold 6,203 shares of the business’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $66.24, for a total value of $410,886.72. Following the completion of the transaction, the chief operating officer now owns 55,096 shares of the company’s stock, valued at approximately $3,649,559.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jon G. Daniels sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $68.72, for a total value of $1,374,400.00. Following the completion of the transaction, the senior vice president now directly owns 31,787 shares of the company’s stock, valued at approximately $2,184,402.64. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in KMX. Capstone Asset Management Co. raised its stake in CarMax by 2.3% in the third quarter. Capstone Asset Management Co. now owns 13,337 shares of the company’s stock valued at $712,000 after buying an additional 300 shares during the last quarter. National Pension Service raised its stake in CarMax by 9.3% in the third quarter. National Pension Service now owns 177,266 shares of the company’s stock valued at $9,457,000 after buying an additional 15,106 shares during the last quarter. MAI Capital Management acquired a new stake in CarMax during the third quarter valued at approximately $206,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in CarMax during the third quarter valued at approximately $790,000. Finally, Grandfield & Dodd LLC acquired a new stake in CarMax during the third quarter valued at approximately $303,000.

CarMax Company Profile

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

5 Day Chart for NYSE:KMX

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