CarMax (NYSE:KMX) Sets New 1-Year High at $88.22

CarMax, Inc. (NYSE:KMX) hit a new 52-week high during trading on Thursday . The company traded as high as $88.22 and last traded at $87.37, with a volume of 67171 shares trading hands. The stock had previously closed at $86.98.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of CarMax from $80.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, December 22nd. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of CarMax in a report on Friday, February 16th. Truist Financial increased their target price on CarMax from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, December 22nd. Bank of America lifted their price target on CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Finally, Mizuho started coverage on CarMax in a research note on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $80.42.

CarMax Stock Performance

The company has a market capitalization of $13.75 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61. The company’s 50 day moving average is $76.16 and its 200-day moving average is $72.08. The company has a current ratio of 2.45, a quick ratio of 0.71 and a debt-to-equity ratio of 3.01.

Insider Activity

In other news, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $70.89, for a total value of $1,006,567.11. Following the sale, the vice president now directly owns 9,068 shares of the company’s stock, valued at $642,830.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other CarMax news, EVP Diane L. Cafritz sold 22,000 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the sale, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $355,515.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jill A. Livesay sold 14,199 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the transaction, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,929 shares of company stock worth $2,740,901. Insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KMX. Norges Bank purchased a new stake in CarMax during the 4th quarter valued at $288,278,000. Morningstar Investment Services LLC increased its position in CarMax by 95.4% during the fourth quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after acquiring an additional 1,326,840 shares during the last quarter. Wellington Management Group LLP lifted its holdings in CarMax by 29.4% in the first quarter. Wellington Management Group LLP now owns 3,548,930 shares of the company’s stock valued at $342,400,000 after acquiring an additional 805,438 shares during the period. American Century Companies Inc. boosted its position in CarMax by 674.3% in the third quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock worth $57,059,000 after purchasing an additional 702,526 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of CarMax by 2,311.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 603,659 shares of the company’s stock valued at $42,697,000 after purchasing an additional 578,622 shares during the period.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.