CIBC Asset Management Inc Boosts Holdings in CarMax, Inc. (NYSE:KMX)

CIBC Asset Management Inc raised its holdings in CarMax, Inc. (NYSE:KMX) by 7.5% during the third quarter, Holdings Channel.com reports. The firm owned 22,840 shares of the company’s stock after purchasing an additional 1,589 shares during the quarter. CIBC Asset Management Inc’s holdings in CarMax were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. First Community Trust NA purchased a new stake in CarMax during the second quarter worth about $29,000. Quarry LP grew its holdings in CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after buying an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in CarMax during the 3rd quarter worth about $32,000. Blue Trust Inc. grew its holdings in shares of CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after buying an additional 287 shares in the last quarter. Finally, Studio Investment Management LLC grew its stake in CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after acquiring an additional 334 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wedbush restated an “outperform” rating and issued a $95.00 price target on shares of CarMax in a report on Wednesday, October 16th. Evercore ISI raised their price objective on CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, October 17th. Truist Financial lifted their price objective on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. StockNews.com raised CarMax to a “sell” rating in a research report on Friday, July 26th. Finally, BNP Paribas raised shares of CarMax to a “strong sell” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, CarMax has an average rating of “Hold” and an average price target of $79.73.

CarMax Stock Down 2.3 %

Shares of CarMax stock opened at $75.29 on Wednesday. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.59 and a beta of 1.68. CarMax, Inc. has a twelve month low of $62.90 and a twelve month high of $88.22. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. The business’s 50 day simple moving average is $75.07 and its 200-day simple moving average is $75.61.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $6.83 billion. During the same period in the prior year, the business earned $0.75 earnings per share. CarMax’s quarterly revenue was down .9% on a year-over-year basis. Equities research analysts forecast that CarMax, Inc. will post 2.99 earnings per share for the current 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.