State of Alaska Department of Revenue Boosts Stock Position in CarMax, Inc. $KMX

State of Alaska Department of Revenue boosted its position in CarMax, Inc. (NYSE:KMX) by 110.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,087 shares of the company’s stock after purchasing an additional 18,970 shares during the quarter. State of Alaska Department of Revenue’s holdings in CarMax were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of CarMax during the second quarter worth $5,758,000. Hantz Financial Services Inc. lifted its position in CarMax by 45.3% during the second quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock worth $12,893,000 after buying an additional 59,840 shares during the period. Avior Wealth Management LLC boosted its stake in CarMax by 6,129.3% in the 2nd quarter. Avior Wealth Management LLC now owns 9,344 shares of the company’s stock worth $628,000 after buying an additional 9,194 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in CarMax in the 2nd quarter valued at about $1,887,000. Finally, Gagnon Securities LLC grew its holdings in CarMax by 3.9% in the 2nd quarter. Gagnon Securities LLC now owns 163,417 shares of the company’s stock valued at $10,983,000 after buying an additional 6,067 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on KMX shares. Wall Street Zen lowered shares of CarMax from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Robert W. Baird cut their price target on shares of CarMax from $90.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. JPMorgan Chase & Co. lowered their price objective on shares of CarMax from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Friday, December 19th. Royal Bank Of Canada upped their price objective on CarMax from $34.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, December 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of CarMax in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $39.36.

CarMax Price Performance

CarMax stock opened at $48.64 on Friday. The firm has a fifty day moving average of $38.92 and a 200-day moving average of $49.54. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $89.47. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74. The firm has a market capitalization of $6.90 billion, a P/E ratio of 16.05, a PEG ratio of 1.12 and a beta of 1.29.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The firm had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the prior year, the company earned $0.81 EPS. The firm’s revenue was down 6.9% on a year-over-year basis. As a group, analysts predict that CarMax, Inc. will post 3.23 EPS for the current year.

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.