Intech Investment Management LLC Buys 48,757 Shares of CarMax, Inc. $KMX

Intech Investment Management LLC raised its stake in CarMax, Inc. (NYSE:KMX) by 129.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 86,444 shares of the company’s stock after buying an additional 48,757 shares during the period. Intech Investment Management LLC’s holdings in CarMax were worth $3,879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KMX. CYBER HORNET ETFs LLC bought a new stake in shares of CarMax in the 2nd quarter valued at about $28,000. MUFG Securities EMEA plc acquired a new position in CarMax during the second quarter valued at approximately $30,000. Center for Financial Planning Inc. bought a new stake in CarMax in the third quarter valued at approximately $31,000. Strengthening Families & Communities LLC increased its stake in CarMax by 220.0% in the third quarter. Strengthening Families & Communities LLC now owns 880 shares of the company’s stock valued at $39,000 after purchasing an additional 605 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in CarMax by 121.1% in the third quarter. Smartleaf Asset Management LLC now owns 984 shares of the company’s stock worth $45,000 after purchasing an additional 539 shares during the period.

CarMax Stock Up 0.5%

NYSE:KMX opened at $43.09 on Monday. The stock has a 50-day simple moving average of $43.77 and a 200 day simple moving average of $45.67. CarMax, Inc. has a 52-week low of $30.26 and a 52-week high of $84.49. The company has a market cap of $6.11 billion, a PE ratio of 14.22, a PEG ratio of 1.03 and a beta of 1.35. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.51 and a current ratio of 1.99.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.12. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The company had revenue of $5.79 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period last year, the business earned $0.81 EPS. The business’s quarterly revenue was down 6.9% on a year-over-year basis. On average, sell-side analysts expect that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Benchmark reissued a “hold” rating on shares of CarMax in a report on Tuesday, December 16th. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research note on Friday, January 9th. JPMorgan Chase & Co. dropped their price target on CarMax from $30.00 to $28.00 and set an “underweight” rating on the stock in a research report on Friday, December 19th. Finally, Barclays lifted their price objective on CarMax from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $39.21.

About CarMax

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.