22,064 Shares of CarMax, Inc. $KMX Bought by State of Wyoming

Key Points

• State of Wyoming bought 22,064 CarMax shares during the third quarter, valued at approximately $1.216 million. Several other institutional investors also increased their holdings.
• Analyst sentiment remains mixed but has improved, with Bank of America and Zacks upgrading the stock. CarMax has a consensus “Hold” rating and an average price target of $57.85.
• CarMax reported quarterly EPS of $1.16, beating estimates by $0.43, while revenue rose 19.5% year over year to $7.88 billion. Shares opened at $55.62, within a 12-month range of $30.26 to $65.28.

State of Wyoming purchased a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,064 shares of the company's stock, valued at approximately $1,216,000.

Other large investors also recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in CarMax by 9.8% in the 3rd quarter. IFP Advisors Inc now owns 2,348 shares of the company's stock valued at $129,000 after acquiring an additional 210 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of CarMax by 5.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,460 shares of the company's stock worth $269,000 after purchasing an additional 311 shares during the last quarter. Basecamp Wealth Advisors LLC boosted its holdings in shares of CarMax by 105.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company's stock worth $26,000 after purchasing an additional 327 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of CarMax by 15.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,888 shares of the company's stock worth $159,000 after purchasing an additional 384 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of CarMax by 3.8% in the first quarter. D.A. Davidson & CO. now owns 13,180 shares of the company's stock valued at $548,000 after purchasing an additional 484 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KMX shares. Bank of America raised CarMax from an "underperform" rating to a "buy" rating and increased their price target for the company from $50.00 to $65.00 in a report on Thursday, October 15th. Zacks Research upgraded CarMax from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 15th. Weiss Ratings reissued a "sell (d+)" rating on shares of CarMax in a research note on Friday, October 16th. JPMorgan Chase & Co. upped their target price on CarMax from $60.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, September 18th. Finally, Barclays raised their target price on CarMax from $61.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, CarMax has a consensus rating of "Hold" and an average price target of $57.85.

CarMax Price Performance

Shares of KMX stock opened at $55.62 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 2.33 and a quick ratio of 0.57. The company has a market capitalization of $7.89 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23. The firm's 50-day moving average is $57.09 and its two-hundred day moving average is $49.47. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $65.28.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Tuesday, September 29th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.43. The business 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 business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. Analysts predict that CarMax, Inc. will post 3.15 earnings per share for the current year.

About CarMax

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.

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