Key Points
- CarMax CEO Keith Barr bought 9,400 shares on June 22 at an average price of $53.01, a purchase worth about $498,294. The transaction boosted his direct holdings by 39.21% to 33,375 shares.
- CarMax reported stronger-than-expected quarterly results, posting EPS of $1.31 versus the $0.96 consensus estimate and revenue of $8.01 billion versus expectations of $7.42 billion. Revenue rose 6.2% year over year.
- Analysts remain cautious overall despite some upward revisions, with CarMax holding a consensus rating of “Reduce” and a consensus price target of $47.73. The stock was also trading down 2.5% in the article.
CarMax, Inc. (NYSE:KMX - Get Free Report) Director Peter Bensen acquired 2,500 shares of the business's stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $52.20 per share, with a total value of $130,500.00. Following the transaction, the director directly owned 24,796 shares of the company's stock, valued at $1,294,351.20. The trade was a 11.21% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
CarMax Stock Down 2.5%
NYSE KMX opened at $50.62 on Thursday. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70. The firm has a 50-day simple moving average of $43.02 and a 200 day simple moving average of $42.94. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $71.99. The stock has a market cap of $7.18 billion, a PE ratio of 33.09, a PEG ratio of 1.78 and a beta of 1.21.
CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same period in the previous year, the company posted $1.38 earnings per share. The company's quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts forecast that CarMax, Inc. will post 2.54 EPS for the current year.
Institutional Investors Weigh In On CarMax
Large investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its holdings in shares of CarMax by 151.8% in the 4th quarter. AQR Capital Management LLC now owns 7,930,345 shares of the company's stock worth $306,429,000 after buying an additional 4,780,903 shares in the last quarter. SRS Investment Management LLC boosted its stake in CarMax by 1,717.5% in the 4th quarter. SRS Investment Management LLC now owns 5,637,803 shares of the company's stock valued at $217,845,000 after buying an additional 5,327,603 shares in the last quarter. Janus Henderson Group PLC boosted its stake in CarMax by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 4,580,807 shares of the company's stock valued at $190,471,000 after buying an additional 49,987 shares in the last quarter. Dimensional Fund Advisors LP grew its position in CarMax by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,275,663 shares of the company's stock valued at $177,767,000 after acquiring an additional 289,768 shares during the period. Finally, Norges Bank bought a new stake in CarMax in the fourth quarter valued at $159,232,000.
Analyst Ratings Changes
A number of research firms have recently issued reports on KMX. Weiss Ratings restated a "sell (d)" rating on shares of CarMax in a research report on Wednesday, April 8th. Stephens raised CarMax from an "equal weight" rating to an "overweight" rating and set a $66.00 target price for the company in a research report on Thursday, June 18th. UBS Group lifted their price target on shares of CarMax from $42.00 to $57.00 and gave the stock a "neutral" rating in a research note on Tuesday. Robert W. Baird boosted their price target on shares of CarMax from $48.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, June 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CarMax from $37.00 to $38.00 and gave the company an "underweight" rating in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $47.73.
View Our Latest Stock Report on CarMax
About CarMax
(
Get Free Report)
CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company's inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax's retail locations or browse the company's online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.
Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.
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