The firm also increased its full year fiscal 2015 earnings estimates to $2.62 per share, from $2.58 per share. Keybanc raised its fiscal full year 2016 earnings forecast to $2.98 per share, from $2.94 per share.
Keybanc said it upped its numbers on the auto finance and sales company based on its belief that CarMax is growing faster that its peers and is buying back more shares.
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The firm has a "buy" rating on CarMax stock.
Shares of CarMax are flat in pre-market trading this morning.
Separately, TheStreet Ratings team rates CARMAX INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CARMAX INC (KMX) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."