CarMax (NYSE:KMX) Director Sona Chawla Buys 2,000 Shares of Stock

CarMax, Inc. (NYSE:KMX) Director Sona Chawla acquired 2,000 shares of the stock in a transaction on Thursday, June 25th. The stock was bought at an average cost of $53.39 per share, with a total value of $106,780.00. Following the completion of the transaction, the director owned 21,702 shares in the company, valued at $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

CarMax Stock Performance

Shares of NYSE:KMX opened at $52.72 on Friday. The firm’s 50 day simple moving average is $43.49 and its 200-day simple moving average is $43.10. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.82 and a current ratio of 2.70. CarMax, Inc. has a one year low of $30.26 and a one year high of $71.99. The firm has a market cap of $7.48 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.77 and a beta of 1.21.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. The firm had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 earnings per share. As a group, equities analysts predict that CarMax, Inc. will post 2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KMX shares. Argus upgraded CarMax to a “hold” rating in a report on Thursday, April 16th. Evercore set a $45.00 price target on CarMax in a research report on Friday, April 10th. Royal Bank Of Canada upped their price objective on CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price on the stock in a research note on Thursday, June 18th. Finally, Morgan Stanley boosted their target price on shares of CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $47.73.

Hedge Funds Weigh In On CarMax

Several hedge funds have recently modified their holdings of KMX. Intech Investment Management LLC grew its holdings in shares of CarMax by 129.4% during the third quarter. Intech Investment Management LLC now owns 86,444 shares of the company’s stock valued at $3,879,000 after buying an additional 48,757 shares during the last quarter. Silver Heights Capital Management Inc raised its stake in CarMax by 39.5% in the 3rd quarter. Silver Heights Capital Management Inc now owns 926,167 shares of the company’s stock worth $41,557,000 after acquiring an additional 262,478 shares during the last quarter. Freestone Capital Holdings LLC acquired a new stake in CarMax during the 4th quarter worth about $968,000. Dimensional Fund Advisors LP lifted its position in CarMax by 33.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,685,201 shares of the company’s stock worth $165,358,000 after acquiring an additional 918,553 shares during the period. Finally, Rings Capital Management LLC grew its stake in CarMax by 71.6% during the 3rd quarter. Rings Capital Management LLC now owns 1,074,000 shares of the company’s stock valued at $48,190,000 after purchasing an additional 448,000 shares during the last quarter.

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.