Royal Bank of Canada Trims CarMax, Inc (KMX) Target Price to $63.00

CarMax, Inc (NYSE:KMX) had its price objective dropped by investment analysts at Royal Bank of Canada from $71.00 to $63.00 in a report issued on Friday. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 8.04% from the company’s previous close.

A number of other research firms also recently issued reports on KMX. Zacks Investment Research upgraded shares of CarMax from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Tuesday, February 21st. Morgan Stanley downgraded shares of CarMax from an “equal weight” rating to an “underweight” rating and set a $48.00 target price for the company. in a research report on Wednesday, February 1st. Wedbush reiterated a “neutral” rating on shares of CarMax in a research report on Wednesday, January 18th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $72.00 target price on shares of CarMax in a research report on Monday, March 13th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $66.17.

Analyst Recommendations for CarMax (NYSE:KMX)

Shares of CarMax (NYSE:KMX) traded down 0.83% during trading on Friday, hitting $58.31. The company’s stock had a trading volume of 2,821,382 shares. The stock has a market cap of $10.88 billion, a PE ratio of 17.89 and a beta of 1.34. The company has a 50-day moving average price of $60.03 and a 200-day moving average price of $60.15. CarMax has a one year low of $45.06 and a one year high of $69.11.

CarMax (NYSE:KMX) last released its earnings results on Thursday, April 6th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.02. CarMax had a net margin of 3.96% and a return on equity of 21.02%. The company earned $4.05 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that CarMax will post $3.28 EPS for the current fiscal year.

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In related news, COO William C. Jr. Wood sold 6,203 shares of the firm’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $66.24, for a total value of $410,886.72. Following the transaction, the chief operating officer now directly owns 55,096 shares in the company, valued at approximately $3,649,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jon G. Daniels sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $68.72, for a total transaction of $1,374,400.00. Following the completion of the transaction, the senior vice president now owns 31,787 shares in the company, valued at $2,184,402.64. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Candriam Luxembourg S.C.A. raised its position in CarMax by 28.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 14,118 shares of the company’s stock worth $836,000 after buying an additional 3,131 shares during the last quarter. Quantitative Systematic Strategies LLC raised its stake in CarMax by 35.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 35,213 shares of the company’s stock valued at $2,085,000 after buying an additional 9,221 shares in the last quarter. Bank of Montreal Can raised its stake in CarMax by 1.4% in the first quarter. Bank of Montreal Can now owns 57,046 shares of the company’s stock valued at $3,378,000 after buying an additional 760 shares in the last quarter. National Pension Service raised its stake in CarMax by 2.1% in the first quarter. National Pension Service now owns 193,545 shares of the company’s stock valued at $11,624,000 after buying an additional 3,991 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. bought a new stake in CarMax during the first quarter valued at about $1,126,000.

About CarMax

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.

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