CarMax (NYSE:KMX) Price Target Raised to $99.00

CarMax (NYSE:KMX) had its price target hoisted by Royal Bank of Canada from $92.00 to $99.00 in a research report report published on Thursday morning, Marketbeat reports. Royal Bank of Canada currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on KMX. Truist Financial raised their price target on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Evercore ISI upped their price target on CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday. Stephens initiated coverage on shares of CarMax in a research report on Thursday, December 5th. They set an “equal weight” rating and a $86.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $95.00 price target on shares of CarMax in a report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.17.

CarMax Stock Performance

Shares of NYSE KMX opened at $84.27 on Thursday. The business’s 50-day simple moving average is $79.01 and its 200-day simple moving average is $77.64. CarMax has a 52 week low of $65.83 and a 52 week high of $91.25. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The firm has a market cap of $13.06 billion, a price-to-earnings ratio of 31.68, a P/E/G ratio of 1.76 and a beta of 1.71.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, equities research analysts expect that CarMax will post 3.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CarMax

Institutional investors have recently bought and sold shares of the business. Oddo BHF Asset Management Sas bought a new position in shares of CarMax in the third quarter valued at about $2,229,000. Franklin Resources Inc. raised its stake in shares of CarMax by 53.3% in the third quarter. Franklin Resources Inc. now owns 27,362 shares of the company’s stock worth $1,999,000 after acquiring an additional 9,509 shares during the last quarter. Tidal Investments LLC lifted its position in shares of CarMax by 141.8% during the third quarter. Tidal Investments LLC now owns 13,019 shares of the company’s stock worth $1,007,000 after purchasing an additional 7,635 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of CarMax during the third quarter valued at approximately $351,000. Finally, World Investment Advisors LLC acquired a new stake in shares of CarMax in the third quarter valued at approximately $6,942,000.

About CarMax

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.