CarMax (NYSE:KMX) Price Target Raised to $56.00

by · The Markets Daily

CarMax (NYSE:KMX – Free Report) had its price objective upped by Royal Bank Of Canada from $45.00 to $56.00 in a research report released on Wednesday morning, MarketBeat.com reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

A number of other brokerages have also issued reports on KMX. Robert W. Baird raised their price target on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Zacks Research downgraded CarMax from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 16th. BNP Paribas Exane reiterated a “strong sell” rating and issued a $48.00 target price (up from $33.00) on shares of CarMax in a research note on Wednesday. Bank of America lifted their target price on CarMax from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Wednesday. Finally, UBS Group lifted their target price on CarMax from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $56.71.

Get Our Latest Research Report on CarMax

CarMax Stock Down 1.7%

Shares of KMX opened at $54.91 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 2.33 and a debt-to-equity ratio of 2.66. The business has a fifty day moving average of $59.40 and a 200 day moving average of $50.43. The company has a market cap of $7.79 billion, a PE ratio of 26.79, a P/E/G ratio of 1.68 and a beta of 1.23. CarMax has a 52-week low of $30.26 and a 52-week high of $65.28.

CarMax (NYSE:KMX – Get Free Report) last posted its quarterly earnings data on Tuesday, September 29th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.43. CarMax had a net margin of 1.06% and a return on equity of 7.76%. The company had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, sell-side analysts expect that CarMax will post 2.89 EPS for the current year.

Institutional Investors Weigh In On CarMax

Several large investors have recently modified their holdings of the business. Bessemer Group Inc. boosted its position in CarMax by 28.1% during the 1st quarter. Bessemer Group Inc. now owns 156,121 shares of the company’s stock valued at $6,491,000 after acquiring an additional 34,211 shares in the last quarter. Bank of America Corp DE raised its position in shares of CarMax by 61.7% in the 1st quarter. Bank of America Corp DE now owns 1,687,359 shares of the company’s stock worth $70,160,000 after acquiring an additional 643,834 shares in the last quarter. State Street Corp raised its position in shares of CarMax by 5.6% in the 2nd quarter. State Street Corp now owns 5,156,276 shares of the company’s stock worth $272,715,000 after acquiring an additional 271,216 shares in the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of CarMax during the 1st quarter worth $1,688,000. Finally, Midway Capital Research & Management purchased a new stake in shares of CarMax during the 4th quarter worth $1,625,000.

CarMax Company Profile

(Get Free Report)

CarMax, Inc is a retailer of used vehicles operating in the United States. The company sells a broad selection of used cars, trucks and SUVs through its dealership network and online platform, offering customers the ability to research, purchase and arrange delivery for vehicles through an omnichannel shopping experience.

In addition to retail vehicle sales, CarMax provides vehicle financing through CarMax Auto Finance and offers customers access to extended protection products and related services.

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