Kinsale Capital Group Inc. grew its position in CarMax, Inc. (NYSE:KMX – Free Report) by 18.8% during the second quarter, HoldingsChannel reports. The firm owned 174,637 shares of the company’s stock after buying an additional 27,644 shares during the period. Kinsale Capital Group Inc.’s holdings in CarMax were worth $9,237,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of KMX. Basecamp Wealth Advisors LLC raised its position in shares of CarMax by 105.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 327 shares in the last quarter. Huntington National Bank grew its position in shares of CarMax by 62.4% in the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of CarMax in the second quarter worth $28,000. MUFG Securities EMEA plc purchased a new position in shares of CarMax during the second quarter worth about $30,000. Finally, Wellington Grp LLC increased its holdings in shares of CarMax by 6,500.0% in the 1st quarter. Wellington Grp LLC now owns 726 shares of the company’s stock worth $30,000 after buying an additional 715 shares during the last quarter.
CarMax Stock Down 0.3%
Shares of CarMax stock opened at $59.85 on Friday. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $62.56. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The company’s 50 day moving average is $54.63 and its 200 day moving average is $46.50. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Benchmark reiterated a “hold” rating on shares of CarMax in a research note on Thursday, June 18th. Barclays raised CarMax from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $37.00 to $61.00 in a research report on Tuesday, July 21st. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price for the company in a report on Thursday, June 18th. Truist Financial boosted their price target on CarMax from $47.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, June 18th. Finally, Robert W. Baird upped their price target on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, CarMax currently has an average rating of “Hold” and an average target price of $51.00.
Get Our Latest Research Report on CarMax
Key Headlines Impacting CarMax
Here are the key news stories impacting CarMax this week:
- Positive Sentiment: Zacks upgraded CarMax from “Hold” to “Strong Buy.” The firm raised multiple EPS forecasts, including estimates for FY2028 to $3.11 from $2.96 and FY2029 to $3.90 from $3.21. It also increased quarterly projections for Q1 2028, Q2 2028, Q3 2028, Q4 2028 and Q1 2029, signaling improving expectations for the used-car retailer’s longer-term earnings power. Zacks upgrade and earnings estimates
- Neutral Sentiment: CarMax’s latest reported quarter provides fundamental support: revenue increased 6.2% year over year to $8.01 billion and earnings of $1.31 per share exceeded the $0.96 analyst consensus. However, earnings were below the $1.38 per share reported in the prior-year period, and the company’s current-year consensus EPS estimate remains $2.73.
- Negative Sentiment: One valuation analysis says CarMax stock looks stretched following a 53% five-year slump and subsequent recovery. With shares near their 52-week high and trading at roughly 39 times earnings, investors may be concerned that the current valuation already discounts much of the expected improvement. CarMax stock looks stretched after a 53% five-year slump
- Negative Sentiment: A separate analysis concludes that CarMax could be approximately 7% above fair value, citing the impact of a leadership change. This raises the risk that the stock’s recent gains have outpaced its underlying fundamentals and could limit further upside. CarMax could be 7% above fair value on leadership change
Insider Buying and Selling
In other news, CEO Keith Barr acquired 9,400 shares of CarMax stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the transaction, the chief executive officer owned 33,375 shares in the company, valued at $1,769,208.75. The trade was a 39.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sona Chawla bought 2,000 shares of the stock in a transaction on Thursday, June 25th. The stock was purchased at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the acquisition, the director owned 21,702 shares of the company’s stock, valued at $1,158,669.78. This trade represents a 10.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 13,900 shares of company stock valued at $735,574 over the last 90 days. Company insiders own 1.01% of the company’s stock.
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.
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