CarMax (NYSE:KMX) Given Sector Perform Rating at Royal Bank Of Canada

Royal Bank Of Canada reiterated their sector perform rating on shares of CarMax (NYSE:KMX) in a report released on Friday morning, Marketbeat reports. They currently have a $34.00 price objective on the stock, down from their previous price objective of $59.00.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. restated an “underweight” rating and set a $30.00 price target (down previously from $50.00) on shares of CarMax in a research report on Thursday. Zacks Research cut CarMax from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 2nd. Wall Street Zen cut CarMax from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Benchmark lowered CarMax from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Morgan Stanley reduced their target price on CarMax from $80.00 to $56.00 and set an “overweight” rating for the company in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.58.

CarMax Stock Performance

CarMax stock traded up $1.43 during midday trading on Friday, hitting $32.31. 12,316,575 shares of the company were exchanged, compared to its average volume of 3,570,740. The business has a fifty day simple moving average of $49.17 and a two-hundred day simple moving average of $58.66. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. The firm has a market capitalization of $4.74 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26. CarMax has a fifty-two week low of $30.26 and a fifty-two week high of $91.25.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.39). The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a return on equity of 8.51% and a net margin of 1.98%.The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. On average, sell-side analysts forecast that CarMax will post 3.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KMX. AQR Capital Management LLC boosted its stake in CarMax by 195.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock worth $298,107,000 after purchasing an additional 2,947,996 shares during the last quarter. Baird Financial Group Inc. boosted its position in CarMax by 6.6% during the second quarter. Baird Financial Group Inc. now owns 3,298,113 shares of the company’s stock worth $221,666,000 after acquiring an additional 204,481 shares during the last quarter. Norges Bank purchased a new stake in CarMax during the 2nd quarter valued at about $208,144,000. Invesco Ltd. grew its stake in CarMax by 4.7% during the 2nd quarter. Invesco Ltd. now owns 2,998,928 shares of the company’s stock valued at $201,558,000 after acquiring an additional 135,334 shares in the last quarter. Finally, First Pacific Advisors LP raised its holdings in CarMax by 0.6% in the 2nd quarter. First Pacific Advisors LP now owns 2,431,244 shares of the company’s stock valued at $163,404,000 after acquiring an additional 15,270 shares during the last quarter.

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.