Keith Barr Acquires 9,400 Shares of CarMax (NYSE:KMX) Stock

CarMax, Inc. (NYSE:KMX) CEO Keith Barr purchased 9,400 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $53.01 per share, with a total value of $498,294.00. Following the purchase, the chief executive officer owned 33,375 shares in the company, valued at $1,769,208.75. This represents a 39.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

CarMax Stock Performance

Shares of NYSE KMX opened at $52.80 on Friday. The business’s 50-day simple moving average is $43.25 and its 200-day simple moving average is $43.04. 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 52 week low of $30.26 and a 52 week high of $71.99. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 34.51, a P/E/G ratio of 1.70 and a beta of 1.21.

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

Key Headlines Impacting CarMax

Here are the key news stories impacting CarMax this week:

• Positive Sentiment: CarMax received fresh bullish attention from momentum-focused and valuation-oriented commentary, with articles calling KMX a long-term momentum name and suggesting the stock still looks undervalued after its recent rally. Article Title
• Positive Sentiment: Insider buying is supporting sentiment: CEO Keith Barr bought 9,400 shares and Director Peter Bensen bought 2,500 shares, a sign management may believe the stock remains attractive near current levels. Article Title
• Positive Sentiment: Recent earnings were strong, with CarMax posting $1.31 EPS versus $0.96 expected and revenue of $8.01 billion versus $7.42 billion expected, reinforcing the case that fundamentals are improving. Article Title
• Positive Sentiment: Several analysts raised price targets after the earnings report, including Stephens and Robert W. Baird, which can help underpin the stock. Article Title
• Neutral Sentiment: Truist Financial kept a Hold rating on CarMax, suggesting Wall Street remains constructive but not universally bullish. Article Title
• Neutral Sentiment: The company’s shareholder-approved expanded stock incentive plan is a routine governance item and is unlikely to move the stock on its own. Article Title
• Negative Sentiment: Some coverage still highlights margin pressure and broader auto retail uncertainty, which may temper enthusiasm despite the recent rally. Article Title

Hedge Funds Weigh In On CarMax

Several large investors have recently bought and sold shares of KMX. Basecamp Wealth Advisors LLC boosted its holdings in CarMax by 105.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 327 shares during the period. Pacer Advisors Inc. bought a new position in shares of CarMax during the 1st quarter worth about $48,634,000. NewEdge Advisors LLC raised its position in shares of CarMax by 63.0% during the first quarter. NewEdge Advisors LLC now owns 69,568 shares of the company’s stock valued at $2,893,000 after buying an additional 26,888 shares during the last quarter. Blue Edge Capital LLC acquired a new position in shares of CarMax during the first quarter valued at about $304,000. Finally, Caerus Investment Advisors LLC lifted its stake in shares of CarMax by 9.0% in the first quarter. Caerus Investment Advisors LLC now owns 6,396 shares of the company’s stock valued at $266,000 after buying an additional 528 shares during the period.

Analyst Ratings Changes

A number of research analysts recently issued reports on KMX shares. Barclays raised 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. Bank of America upped their price target on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a report on Wednesday, June 17th. Royal Bank Of Canada raised their price target on CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of CarMax in a research note on Wednesday, April 8th. Finally, Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective for the company in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $47.73.

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.