CarMax (NYSE:KMX) Director Purchases $130,500.00 in Stock

CarMax, Inc. (NYSE:KMX) Director Peter Bensen bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the transaction, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

CarMax Trading Down 2.5%

NYSE:KMX traded down $1.29 on Wednesday, hitting $50.62. 4,161,796 shares of the stock were exchanged, compared to its average volume of 3,510,824. The stock has a fifty day moving average of $42.99 and a 200-day moving average of $42.85. The stock has a market cap of $7.18 billion, a PE ratio of 33.09, a PEG ratio of 1.81 and a beta of 1.21. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $71.99.

CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the company earned $1.38 EPS. The company’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts expect that CarMax, Inc. will post 2.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new stake in CarMax during the 2nd quarter valued at $28,000. MUFG Securities EMEA plc acquired a new position in CarMax in the 2nd quarter worth $30,000. Basecamp Wealth Advisors LLC boosted its position in CarMax by 105.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 327 shares during the last quarter. Huntington National Bank grew its stake in shares of CarMax by 62.4% during the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after acquiring an additional 265 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of CarMax during the third quarter worth about $32,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on KMX shares. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research note on Wednesday, April 8th. Morgan Stanley upped their price target on shares of CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Truist Financial increased their price target on CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, June 18th. UBS Group raised their price objective on CarMax from $42.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Bank of America boosted their price objective on CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, CarMax currently has an average rating of “Reduce” and an average price target of $47.73.

About CarMax

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.