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

Investment Research & Advisory Group Inc. lifted its holdings in CarMax, Inc. (NYSE:KMX) by 15.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 27,178 shares of the company’s stock after acquiring an additional 3,679 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in CarMax were worth $2,103,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. First Community Trust NA purchased a new position in CarMax in the 2nd quarter worth $29,000. Quarry LP increased its holdings in shares of CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after buying an additional 184 shares during the period. Blue Trust Inc. lifted its stake in shares of CarMax by 134.1% in the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares during the last quarter. Studio Investment Management LLC boosted its holdings in CarMax by 176.7% during the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after acquiring an additional 334 shares during the period. Finally, Headlands Technologies LLC bought a new position in CarMax during the 1st quarter worth approximately $55,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KMX shares. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. Evercore ISI upped their price target on shares of CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, October 17th. Wedbush reissued an “outperform” rating and issued a $95.00 price target on shares of CarMax in a report on Wednesday, October 16th. StockNews.com raised shares of CarMax to a “sell” rating in a research note on Friday, July 26th. Finally, Truist Financial increased 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. Four analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.73.

CarMax Stock Performance

Shares of 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 company has a 50-day simple moving average of $77.62 and a two-hundred day simple moving average of $75.02. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. The firm has a market capitalization of $11.33 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68.

CarMax (NYSE:KMX) last released its 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). The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. On average, analysts anticipate that CarMax, Inc. will post 2.97 EPS for the current fiscal year.

CarMax Company Profile

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.