Investment Research & Advisory Group Inc. Acquires 3,679 Shares of CarMax, Inc. (NYSE:KMX)

Investment Research & Advisory Group Inc. lifted its stake in CarMax, Inc. (NYSE:KMX) by 15.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,178 shares of the company’s stock after purchasing an additional 3,679 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in CarMax were worth $2,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its stake in CarMax by 29.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock valued at $14,573,000 after purchasing an additional 37,660 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in CarMax by 10.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock worth $16,238,000 after acquiring an additional 17,557 shares during the last quarter. Van ECK Associates Corp lifted its position in CarMax by 38.2% in the 1st quarter. Van ECK Associates Corp now owns 55,800 shares of the company’s stock valued at $4,861,000 after acquiring an additional 15,426 shares in the last quarter. Swedbank AB purchased a new stake in CarMax during the 1st quarter valued at $1,406,000. Finally, SG Americas Securities LLC increased its holdings in shares of CarMax by 7.9% in the 1st quarter. SG Americas Securities LLC now owns 22,939 shares of the company’s stock worth $1,998,000 after purchasing an additional 1,688 shares in the last quarter.

CarMax Trading Up 0.8 %

NYSE:KMX opened at $72.58 on Friday. CarMax, Inc. has a one year low of $59.66 and a one year high of $88.22. The business has a fifty day moving average price of $77.62 and a 200-day moving average price of $75.02. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts forecast that CarMax, Inc. will post 2.97 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on KMX shares. Evercore ISI upped their price target on CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, October 17th. StockNews.com raised shares of CarMax to a “sell” rating in a report on Friday, July 26th. BNP Paribas raised shares of CarMax to a “strong sell” rating in a report on Friday, September 27th. Truist Financial raised their target price on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $79.73.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.