CarMax (NYSE:KMX) Given New $81.00 Price Target at Royal Bank Of Canada

CarMax (NYSE:KMX - Get Free Report) had its price target increased by Royal Bank Of Canada from $80.00 to $81.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 21.44% from the company's previous close.

A number of other brokerages have also commented on KMX. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. Needham & Company LLC reissued a "buy" rating and set a $92.00 target price on shares of CarMax in a research report on Monday. Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Robert W. Baird cut their price target on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Stephens raised CarMax from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.10.

CarMax Stock Down 1.2%

NYSE:KMX traded down $0.80 during trading hours on Monday, reaching $66.70. The company had a trading volume of 2,376,921 shares, compared to its average volume of 2,363,574. CarMax has a twelve month low of $61.34 and a twelve month high of $91.25. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.10 and a beta of 1.38. The business's 50-day simple moving average is $65.70 and its two-hundred day simple moving average is $75.12.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.20. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The company's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. On average, equities analysts expect that CarMax will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mitchell D. Steenrod bought 1,300 shares of the company's stock in a transaction on Thursday, April 24th. The shares were purchased at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the purchase, the director now directly owns 33,577 shares in the company, valued at $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CarMax

Several institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC raised its stake in CarMax by 11.5% in the 1st quarter. Voya Investment Management LLC now owns 88,958 shares of the company's stock valued at $6,932,000 after acquiring an additional 9,152 shares during the period. First Hawaiian Bank increased its stake in shares of CarMax by 118.8% in the first quarter. First Hawaiian Bank now owns 7,307 shares of the company's stock worth $569,000 after purchasing an additional 3,968 shares in the last quarter. Strs Ohio bought a new stake in shares of CarMax in the first quarter valued at approximately $1,700,000. Acadian Asset Management LLC purchased a new stake in shares of CarMax during the 1st quarter valued at approximately $727,000. Finally, Intech Investment Management LLC boosted its holdings in CarMax by 61.7% in the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company's stock worth $1,492,000 after buying an additional 7,307 shares during the period.

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.