CarMax Inc (KMX) Price Target Increased to $83.00 by Analysts at Royal Bank Of Canada
CarMax Inc (NYSE:KMX) had its price target boosted by stock analysts at Royal Bank Of Canada from $77.00 to $83.00 in a report issued on Monday. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 11.87% from the company’s current price.
KMX has been the subject of several other reports. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of CarMax in a report on Friday, September 1st. Zacks Investment Research raised shares of CarMax from a “hold” rating to a “strong-buy” rating and set a $74.00 price target for the company in a report on Wednesday, August 16th. ValuEngine lowered shares of CarMax from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $73.00 price target (up from $71.00) on shares of CarMax in a report on Thursday, June 22nd. Finally, CIBC lifted their price target on shares of CarMax from $72.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. CarMax has an average rating of “Buy” and an average price target of $74.69.
Shares of CarMax (KMX) opened at 74.19 on Monday. CarMax has a 52 week low of $47.50 and a 52 week high of $74.60. The stock’s 50 day moving average is $66.11 and its 200 day moving average is $62.70. The firm has a market cap of $13.60 billion, a P/E ratio of 21.31 and a beta of 1.32.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Friday, September 22nd. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.03. CarMax had a net margin of 4.09% and a return on equity of 21.88%. The business had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts predict that CarMax will post $3.72 earnings per share for the current fiscal year.
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In other news, EVP Edwin J. Hill sold 35,497 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $65.69, for a total value of $2,331,797.93. Following the completion of the sale, the executive vice president now directly owns 40,289 shares of the company’s stock, valued at approximately $2,646,584.41. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Edwin J. Hill sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $64.88, for a total transaction of $2,270,800.00. Following the completion of the sale, the executive vice president now directly owns 39,792 shares of the company’s stock, valued at $2,581,704.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,515 shares of company stock valued at $10,108,759. Company insiders own 1.90% of the company’s stock.
Several large investors have recently modified their holdings of KMX. Korea Investment CORP lifted its stake in shares of CarMax by 140.5% in the 2nd quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after acquiring an additional 1,033 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of CarMax in the 2nd quarter worth approximately $112,000. Seven Eight Capital LP acquired a new stake in shares of CarMax in the 2nd quarter worth approximately $133,000. QS Investors LLC lifted its stake in shares of CarMax by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after acquiring an additional 22 shares during the period. Finally, Global X Management Co. LLC lifted its stake in shares of CarMax by 7.3% in the 1st quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock worth $148,000 after acquiring an additional 169 shares during the period.
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.
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