CarMax (NYSE:KMX) Receives "Outperform" Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of CarMax (NYSE:KMX - Free Report) in a report released on Monday, Benzinga reports. Royal Bank of Canada currently has a $83.00 price target on the stock.

A number of other brokerages also recently issued reports on KMX. Wedbush lifted their price objective on shares of CarMax from $90.00 to $100.00 and gave the stock an outperform rating in a research report on Tuesday, April 2nd. Mizuho began coverage on shares of CarMax in a research report on Tuesday, March 19th. They issued a neutral rating and a $80.00 price objective on the stock. Truist Financial lifted their price objective on shares of CarMax from $72.00 to $75.00 and gave the stock a hold rating in a research report on Friday, December 22nd. Needham & Company LLC raised shares of CarMax from a hold rating to a buy rating and set a $99.00 price objective on the stock in a research report on Wednesday, March 20th. Finally, Evercore ISI boosted their target price on shares of CarMax from $78.00 to $85.00 and gave the stock an in-line rating in a research report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $81.25.

CarMax Stock Up 1.7 %

Shares of NYSE:KMX traded up $1.38 during trading hours on Monday, hitting $82.87. The company's stock had a trading volume of 1,758,526 shares, compared to its average volume of 1,731,191. CarMax has a 52 week low of $59.66 and a 52 week high of $88.22. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.45 and a quick ratio of 0.71. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 1.22 and a beta of 1.61. The firm's fifty day moving average price is $78.48 and its 200 day moving average price is $72.15.

Insider Activity at CarMax

In related news, EVP Diane L. Cafritz sold 2,730 shares of the firm's stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $70.54, for a total value of $192,574.20. Following the sale, the executive vice president now owns 5,073 shares of the company's stock, valued at $357,849.42. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Diane L. Cafritz sold 2,730 shares of the firm's stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $70.54, for a total transaction of $192,574.20. Following the transaction, the executive vice president now directly owns 5,073 shares in the company, valued at $357,849.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Diane L. Cafritz sold 22,000 shares of the business's stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the sale, the executive vice president now owns 5,073 shares in the company, valued at $355,515.84. The disclosure for this sale can be found here. Insiders have sold a total of 38,929 shares of company stock valued at $2,740,901 over the last 90 days. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of CarMax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of CarMax by 6.5% during the 1st quarter. GAMMA Investing LLC now owns 2,156 shares of the company's stock worth $188,000 after purchasing an additional 131 shares during the period. CWM LLC raised its position in shares of CarMax by 149.7% in the 1st quarter. CWM LLC now owns 10,482 shares of the company's stock valued at $913,000 after purchasing an additional 6,285 shares in the last quarter. Timber Creek Capital Management LLC raised its position in shares of CarMax by 3.4% in the 1st quarter. Timber Creek Capital Management LLC now owns 55,702 shares of the company's stock valued at $4,852,000 after purchasing an additional 1,841 shares in the last quarter. Confluence Investment Management LLC acquired a new position in shares of CarMax in the 1st quarter valued at approximately $12,746,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of CarMax during the 4th quarter valued at approximately $5,637,000.

CarMax Company Profile

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.