CarMax, Inc. (NYSE:KMX) Short Interest Down 13.9% in January

CarMax, Inc. (NYSE:KMX) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 14,338,051 shares, a decline of 13.9% from the January 15th total of 16,653,471 shares. Currently, 10.3% of the shares of the stock are short sold. Based on an average trading volume of 3,187,316 shares, the days-to-cover ratio is currently 4.5 days. Based on an average trading volume of 3,187,316 shares, the days-to-cover ratio is currently 4.5 days. Currently, 10.3% of the shares of the stock are short sold.

CarMax Price Performance

Shares of CarMax stock opened at $45.74 on Thursday. The business’s fifty day moving average price is $43.38 and its 200 day moving average price is $46.37. The stock has a market capitalization of $6.49 billion, a P/E ratio of 15.10, a PEG ratio of 1.01 and a beta of 1.35. CarMax has a twelve month low of $30.26 and a twelve month high of $88.52. The company has a current ratio of 1.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.74.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The business had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the company earned $0.81 earnings per share. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, research analysts anticipate that CarMax will post 3.23 earnings per share for the current year.

Institutional Trading of CarMax

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CarMax by 0.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after buying an additional 173 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of CarMax by 3.1% during the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock valued at $419,000 after purchasing an additional 161 shares during the last quarter. Empowered Funds LLC raised its position in shares of CarMax by 12.5% during the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after purchasing an additional 585 shares during the period. Intech Investment Management LLC boosted its position in CarMax by 61.7% during the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock valued at $1,492,000 after purchasing an additional 7,307 shares during the period. Finally, Acadian Asset Management LLC bought a new position in CarMax during the 1st quarter worth $727,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stephens decreased their price objective on shares of CarMax from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, December 19th. Wall Street Zen lowered shares of CarMax from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Royal Bank Of Canada lifted their price objective on CarMax from $34.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Friday, December 19th. William Blair cut CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday, November 6th. Finally, Truist Financial boosted their price target on CarMax from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus 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.