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

CarMax (NYSE:KMX) had its price objective boosted by Royal Bank of Canada from $92.00 to $99.00 in a report issued on Thursday, MarketBeat Ratings reports. Royal Bank of Canada currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on KMX. Evercore ISI boosted their price objective on CarMax from $83.00 to $85.00 and gave the company a “market perform” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of CarMax in a report on Wednesday, October 16th. Oppenheimer restated an “outperform” rating and set a $105.00 price objective on shares of CarMax in a report on Friday, October 4th. Wedbush reaffirmed an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Finally, Truist Financial lifted their price target on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.17.

CarMax Price Performance

Shares of KMX opened at $84.27 on Thursday. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. The stock has a market cap of $13.06 billion, a P/E ratio of 31.68, a price-to-earnings-growth ratio of 1.76 and a beta of 1.71. The stock’s 50-day moving average price is $79.01 and its two-hundred day moving average price is $77.64. CarMax has a 1 year low of $65.83 and a 1 year high of $91.25.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.19. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. On average, equities analysts predict that CarMax will post 3.01 earnings per share for the current year.

Hedge Funds Weigh In On CarMax

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