Insider Buying: CarMax (NYSE:KMX) CEO Purchases $498,294.00 in Stock

CarMax, Inc. (NYSE:KMX) CEO Keith Barr bought 9,400 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $53.01 per share, with a total value of $498,294.00. Following the transaction, the chief executive officer owned 33,375 shares in the company, valued at $1,769,208.75. The trade was a 39.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

CarMax Price Performance

Shares of NYSE:KMX opened at $52.72 on Friday. The firm’s 50 day moving average is $43.49 and its two-hundred day moving average is $43.10. The firm has a market capitalization of $7.48 billion, a P/E ratio of 34.46, a PEG ratio of 1.77 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 52 week low of $30.26 and a 52 week high of $71.99.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the previous year, the firm posted $1.38 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. Analysts anticipate that CarMax, Inc. will post 2.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Evercore set a $45.00 price objective on shares of CarMax in a report on Friday, April 10th. Robert W. Baird increased their price objective on shares of CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Barclays raised their price objective on shares of CarMax from $31.00 to $37.00 and gave the company an “underweight” rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. boosted their target price on CarMax from $37.00 to $38.00 and gave the stock an “underweight” rating in a report on Thursday, June 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a research report on Wednesday, April 8th. 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 company. According to data from MarketBeat.com, CarMax currently has a consensus rating of “Reduce” and a consensus target price of $47.73.

Institutional Investors Weigh In On CarMax

Several hedge funds and other institutional investors have recently bought and sold shares of KMX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CarMax by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after purchasing an additional 173 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after purchasing an additional 161 shares in the last quarter. Empowered Funds LLC lifted its stake in CarMax by 12.5% during the first quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock valued at $411,000 after purchasing an additional 585 shares during the last quarter. Intech Investment Management LLC lifted its stake in CarMax by 61.7% during the first quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock valued at $1,492,000 after purchasing an additional 7,307 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in CarMax during the first quarter worth approximately $727,000.

CarMax Company Profile

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.