14,257 Shares in CarMax, Inc. $KMX Purchased by Summit Global Investments

Summit Global Investments purchased a new stake in CarMax, Inc. (NYSE:KMX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,257 shares of the company’s stock, valued at approximately $786,000.

Several other hedge funds have also bought and sold shares of the stock. Jupiter Topco LLC acquired a new stake in shares of CarMax during the 2nd quarter worth approximately $245,676,000. Primecap Management Co. CA purchased a new position in shares of CarMax during the 2nd quarter valued at approximately $230,548,000. The Manufacturers Life Insurance Company acquired a new position in shares of CarMax in the 2nd quarter valued at $128,001,000. Canada Pension Plan Investment Board acquired a new position in shares of CarMax in the 2nd quarter valued at $115,465,000. Finally, Pacer Advisors Inc. acquired a new position in shares of CarMax in the 1st quarter valued at $48,634,000.

CarMax Price Performance

Shares of NYSE KMX opened at $56.35 on Tuesday. The firm has a market cap of $8.00 billion, a PE ratio of 27.49, a PEG ratio of 1.49 and a beta of 1.23. The firm has a fifty day moving average of $56.98 and a 200 day moving average of $49.52. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.57 and a current ratio of 2.33. CarMax, Inc. has a one year low of $30.26 and a one year high of $65.28.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Tuesday, September 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.43. The business had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.09 billion. CarMax had a net margin of 1.06% and a return on equity of 7.76%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. As a group, research analysts predict that CarMax, Inc. will post 3.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on KMX shares. Robert W. Baird raised their price target on shares of CarMax from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, September 30th. Weiss Ratings upgraded shares of CarMax from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Truist Financial increased their target price on shares of CarMax from $50.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, September 30th. Royal Bank Of Canada increased their target price on shares of CarMax from $45.00 to $56.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 30th. Finally, Wall Street Zen cut CarMax from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, CarMax has an average rating of “Hold” and a consensus target price of $57.85.

CarMax Company Profile

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.