Citizens Financial Group Inc. RI Buys New Position in CarMax, Inc. $KMX

Citizens Financial Group Inc. RI purchased a new position in shares of CarMax, Inc. (NYSE:KMX) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 9,099 shares of the company’s stock, valued at approximately $378,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Huntington National Bank raised its position in shares of CarMax by 62.4% in the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after buying an additional 265 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of CarMax during the second quarter valued at approximately $28,000. MUFG Securities EMEA plc acquired a new stake in CarMax during the second quarter worth approximately $30,000. Advisory Services Network LLC acquired a new stake in CarMax during the third quarter worth approximately $32,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in CarMax in the 4th quarter worth approximately $33,000.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Argus upgraded CarMax to a “hold” rating in a report on Thursday, April 16th. Bank of America raised 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. Robert W. Baird lifted their price objective on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, June 18th. Morgan Stanley upped their target price on CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 23rd. Finally, Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, CarMax currently has an average rating of “Reduce” and an average target price of $47.73.

Insider Buying and Selling

In other news, Director Sona Chawla purchased 2,000 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was bought at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the purchase, the director directly owned 21,702 shares of the company’s stock, valued at $1,158,669.78. The trade was a 10.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter J. Bensen purchased 2,500 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $52.20 per share, with a total value of $130,500.00. Following the completion of the purchase, 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 disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 13,900 shares of company stock valued at $735,574. 1.01% of the stock is currently owned by company insiders.

CarMax Stock Performance

Shares of KMX stock opened at $58.93 on Thursday. 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 firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 1.80 and a beta of 1.17. CarMax, Inc. has a one year low of $30.26 and a one year high of $63.76. The company has a 50 day moving average price of $47.02 and a 200 day moving average price of $44.31.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.35. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The company had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter last year, the business earned $1.38 EPS. CarMax’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts anticipate that CarMax, Inc. will post 2.7 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.