Intech Investment Management LLC Increases Stock Position in CarMax, Inc. $KMX

Intech Investment Management LLC raised its position in shares of CarMax, Inc. (NYSE:KMX) by 129.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,444 shares of the company’s stock after acquiring an additional 48,757 shares during the period. Intech Investment Management LLC owned approximately 0.06% of CarMax worth $3,879,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fox Run Management L.L.C. acquired a new position in shares of CarMax in the 2nd quarter valued at approximately $1,887,000. True North Advisors LLC increased its position in CarMax by 66.6% in the 3rd quarter. True North Advisors LLC now owns 123,742 shares of the company’s stock valued at $5,552,000 after acquiring an additional 49,450 shares during the period. AXQ Capital LP bought a new position in CarMax in the 2nd quarter valued at about $859,000. Candriam S.C.A. increased its stake in shares of CarMax by 172.5% during the second quarter. Candriam S.C.A. now owns 24,506 shares of the company’s stock valued at $1,647,000 after acquiring an additional 15,513 shares during the period. Finally, Osaic Holdings Inc. increased its position in shares of CarMax by 49.0% during the 2nd quarter. Osaic Holdings Inc. now owns 159,895 shares of the company’s stock valued at $10,768,000 after purchasing an additional 52,576 shares during the period.

CarMax Trading Up 0.5%

KMX stock opened at $43.09 on Monday. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74. The business’s 50 day moving average is $43.77 and its 200-day moving average is $45.67. CarMax, Inc. has a 1-year low of $30.26 and a 1-year high of $84.49. The firm has a market cap of $6.11 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.03 and a beta of 1.35.

CarMax (NYSE:KMX) last issued its quarterly earnings data 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. The firm had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.66 billion. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Equities analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on KMX. Bank of America raised their price objective on CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a research note on Friday, December 19th. Needham & Company LLC restated a “hold” rating on shares of CarMax in a report on Friday, November 7th. Mizuho decreased their price target on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, December 19th. Weiss Ratings reissued a “sell (d)” rating on shares of CarMax in a research note on Friday, January 9th. Finally, William Blair lowered CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $39.21.

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.