Summit Global Investments Acquires 14,257 Shares of CarMax, Inc. $KMX

Summit Global Investments acquired a new position in CarMax, Inc. (NYSE:KMX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,257 shares of the company’s stock, valued at approximately $786,000.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in CarMax by 28.1% in the first quarter. Bessemer Group Inc. now owns 156,121 shares of the company’s stock valued at $6,491,000 after buying an additional 34,211 shares during the last quarter. State Street Corp boosted its holdings in CarMax by 5.6% in the second quarter. State Street Corp now owns 5,156,276 shares of the company’s stock worth $272,715,000 after acquiring an additional 271,216 shares in the last quarter. Bank of America Corp DE grew its stake in shares of CarMax by 61.7% during the first quarter. Bank of America Corp DE now owns 1,687,359 shares of the company’s stock worth $70,160,000 after acquiring an additional 643,834 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of CarMax by 181.0% during the second quarter. WINTON GROUP Ltd now owns 38,780 shares of the company’s stock worth $2,051,000 after acquiring an additional 24,977 shares during the last quarter. Finally, Convergence Investment Partners LLC purchased a new stake in shares of CarMax during the first quarter worth about $1,688,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of CarMax from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, September 18th. Royal Bank Of Canada lifted their target price on shares of CarMax from $45.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 30th. Barclays boosted their target price on shares of CarMax from $61.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 30th. Morgan Stanley upped their price target on shares of CarMax from $47.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 30th. Finally, Zacks Research raised shares of CarMax from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. One 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.85.

CarMax Stock Up 1.4%

KMX stock opened at $56.35 on Tuesday. The company has a market capitalization of $8.00 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.23. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $65.28. The firm’s fifty day simple moving average is $56.98 and its 200-day simple moving average is $49.52. The company has a debt-to-equity ratio of 2.66, a current ratio of 2.33 and a quick ratio of 0.57.

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 firm had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.09 billion. CarMax had a net margin of 1.06% and a return on equity of 7.76%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. As a group, equities research analysts forecast that CarMax, Inc. will post 3.15 earnings per share for the current year.

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.