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

CarMax, Inc (NYSE:KMX) had its target price reduced by investment analysts at Royal Bank of Canada from $71.00 to $63.00 in a report issued on Friday, April 7th. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 7.31% from the company’s previous close.

Other analysts also recently issued reports about the company. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $72.00 target price (up from $66.00) on shares of CarMax in a research note on Tuesday, December 13th. Vetr upgraded CarMax from a “buy” rating to a “strong-buy” rating and set a $69.00 target price for the company in a research note on Wednesday, December 14th. Wedbush restated a “neutral” rating and issued a $55.00 target price on shares of CarMax in a research note on Monday, December 19th. Credit Suisse Group AG set a $75.00 target price on CarMax and gave the company a “buy” rating in a research note on Sunday, December 25th. Finally, Morgan Stanley downgraded CarMax from an “equal weight” rating to an “underweight” rating and set a $48.00 target price for the company. in a research note on Wednesday, February 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. CarMax presently has an average rating of “Buy” and a consensus target price of $66.17.

Analyst Recommendations for CarMax (NYSE:KMX)

CarMax (NYSE:KMX) traded down 0.19% on Friday, reaching $58.60. The company’s stock had a trading volume of 165,873 shares. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 17.98 and a beta of 1.34. CarMax has a 52-week low of $45.06 and a 52-week high of $69.11. The firm’s 50-day moving average price is $58.55 and its 200-day moving average price is $60.64.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, April 6th. The company reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.02. CarMax had a return on equity of 21.02% and a net margin of 3.96%. The firm earned $4.05 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the company posted $0.74 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that CarMax will post $3.52 earnings per share for the current year.

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In related news, Director Edgar H. Grubb sold 2,000 shares of CarMax stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $58.24, for a total value of $116,480.00. Following the sale, the director now owns 42,005 shares of the company’s stock, valued at approximately $2,446,371.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Large investors have recently modified their holdings of the stock. First Bank & Trust boosted its stake in shares of CarMax by 7.1% in the first quarter. First Bank & Trust now owns 2,077 shares of the company’s stock worth $123,000 after buying an additional 138 shares during the last quarter. BlackRock Fund Advisors boosted its position in CarMax by 2.5% in the third quarter. BlackRock Fund Advisors now owns 3,119,225 shares of the company’s stock valued at $166,411,000 after buying an additional 74,621 shares during the last quarter. Credit Agricole S A raised its position in shares of CarMax by 6.9% in the fourth quarter. Credit Agricole S A now owns 38,062 shares of the company’s stock valued at $2,451,000 after buying an additional 2,473 shares during the period. Stephens Investment Management Group LLC raised its position in shares of CarMax by 14.4% in the third quarter. Stephens Investment Management Group LLC now owns 305,146 shares of the company’s stock valued at $16,280,000 after buying an additional 38,407 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of CarMax by 0.3% in the third quarter. Prudential Financial Inc. now owns 274,185 shares of the company’s stock valued at $14,627,000 after buying an additional 929 shares during the period.

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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