48,800 CarMax, Inc. $KMX Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of CarMax, Inc. (NYSE:KMX) by 166.6% in the 3rd quarter, Holdings Channel reports. The firm owned 78,100 shares of the company’s stock after acquiring an additional 48,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in CarMax were worth $4,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Parcion Private Wealth LLC increased its position in shares of CarMax by 58.7% during the third quarter. Parcion Private Wealth LLC now owns 9,701 shares of the company’s stock worth $535,000 after buying an additional 3,588 shares during the period. Soltis Investment Advisors LLC acquired a new position in CarMax in the third quarter valued at $287,000. Choreo LLC acquired a new position in CarMax in the third quarter valued at $269,000. Pinnacle Wealth Planning Services Inc. lifted its holdings in CarMax by 15.3% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,888 shares of the company’s stock valued at $159,000 after buying an additional 384 shares during the period. Finally, VestGen Advisors LLC bought a new stake in CarMax during the third quarter valued at $265,000.

CarMax Stock Performance

NYSE:KMX opened at $55.62 on Monday. The company has a quick ratio of 0.57, a current ratio of 2.33 and a debt-to-equity ratio of 2.66. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $65.28. The company has a fifty day moving average of $57.09 and a 200-day moving average of $49.47. The firm has a market capitalization of $7.89 billion, a P/E ratio of 27.13, a P/E/G ratio of 1.54 and a beta of 1.22.

CarMax (NYSE:KMX) last issued its earnings results on Tuesday, September 29th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.43. The business had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.09 billion. CarMax had a net margin of 1.06% and a return on equity of 7.76%. CarMax’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, sell-side analysts anticipate that CarMax, Inc. will post 3.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KMX. JPMorgan Chase & Co. increased their price target on CarMax from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, September 18th. BNP Paribas Exane reissued a “strong sell” rating and issued a $48.00 price objective (up from $33.00) on shares of CarMax in a research report on Wednesday, September 30th. Barclays boosted their price objective on CarMax from $61.00 to $67.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 30th. Truist Financial upped their target price on CarMax from $50.00 to $60.00 and gave the company a “hold” rating in a research report on Wednesday, September 30th. Finally, Bank of America raised CarMax from an “underperform” rating to a “buy” rating and raised their target price for the stock from $50.00 to $65.00 in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $57.85.

CarMax Company Profile

CarMax, Inc is a specialty retailer of used vehicles and operates one of the largest used-car sales networks in the United States. The company sells a broad selection of pre-owned cars, trucks and SUVs through its retail stores and online platform, offering customers tools for vehicle search, appraisal, financing and purchase.

CarMax also operates a vehicle appraisal and acquisition business, buying vehicles from consumers and other sources for resale through its retail or wholesale channels.