Insider Buying: CarMax (NYSE:KMX) Director Acquires $130,500.00 in Stock

CarMax, Inc. (NYSE:KMX) Director Peter Bensen acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired 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 of the company’s stock, valued at $1,294,351.20. The trade was a 11.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

CarMax Price Performance

NYSE KMX opened at $52.72 on Friday. CarMax, Inc. has a one year low of $30.26 and a one year high of $71.99. The stock has a 50-day moving average of $43.49 and a 200 day moving average of $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. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 1.77 and a beta of 1.21.

CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.35. The business had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 EPS. On average, sell-side analysts forecast that CarMax, Inc. will post 2.6 EPS for the current year.

Institutional Trading of CarMax

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KMX shares. UBS Group raised their target price on shares of CarMax from $42.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays boosted their target price 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. Morgan Stanley increased their price target on CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday. Bank of America lifted their price objective on CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. upped their price objective on CarMax from $37.00 to $38.00 and gave the company an “underweight” rating in a research report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price 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.