New England Research & Management Inc. Purchases New Holdings in CarMax, Inc. $KMX

Key Points

• New England Research & Management Inc. has acquired a new position in CarMax, purchasing 5,750 shares valued at approximately $386,000 during the second quarter.
• Several large investors have modified their holdings in CarMax, with notable new stakes and increases in investments from various firms in the first quarter.
• CarMax recently reported quarterly earnings of $1.38 per share, beating estimates, while revenue increased by 6.1% year-over-year despite being slightly below analyst expectations.

New England Research & Management Inc. acquired a new position in shares of CarMax, Inc. (NYSE:KMX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,750 shares of the company's stock, valued at approximately $386,000.

Other large investors also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in CarMax in the first quarter worth $27,000. Accent Capital Management LLC bought a new stake in CarMax in the 1st quarter valued at $34,000. Strengthening Families & Communities LLC lifted its holdings in shares of CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock worth $39,000 after acquiring an additional 256 shares during the last quarter. Ameriflex Group Inc. bought a new stake in CarMax during the 4th quarter valued at about $53,000. Finally, Quarry LP raised its holdings in shares of CarMax by 50.5% in the 1st quarter. Quarry LP now owns 694 shares of the company's stock valued at $54,000 after purchasing an additional 233 shares in the last quarter.

Insiders Place Their Bets

In related news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the transaction, the executive vice president directly owned 2,779 shares of the company's stock, valued at $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KMX. Royal Bank Of Canada boosted their target price on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Mizuho reduced their target price on CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Truist Financial upped their price objective on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research note on Monday, June 23rd. Needham & Company LLC reissued a "buy" rating and set a $92.00 price target on shares of CarMax in a report on Monday, June 23rd. Finally, Evercore ISI cut their price target on CarMax from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.50.

CarMax Stock Performance

Shares of KMX stock opened at $60.40 on Tuesday. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.97 and a beta of 1.35. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. CarMax, Inc. has a 52-week low of $54.53 and a 52-week high of $91.25. The company's 50 day moving average is $60.21 and its 200 day moving average is $66.00.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.20. The business had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 EPS. On average, sell-side analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.

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