CarMax Inc. (NYSE:KMX) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 28,451,203 shares, an increase of 16.1% from the October 14th total of 24,514,707 shares. Approximately 15.0% of the company’s shares are sold short. Based on an average daily trading volume, of 2,444,882 shares, the days-to-cover ratio is currently 11.6 days.

A number of analysts have weighed in on KMX shares. Buckingham Research lowered CarMax from a “buy” rating to a “neutral” rating and increased their target price for the stock from $59.00 to $63.00 in a research note on Friday, September 9th. They noted that the move was a valuation call. Vetr lowered CarMax from a “buy” rating to a “hold” rating and set a $57.52 target price on the stock. in a research note on Monday, September 12th. Deutsche Bank AG upgraded CarMax from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $68.00 in a research note on Monday, October 24th. Goldman Sachs Group Inc. set a $63.00 target price on CarMax and gave the stock a “buy” rating in a research note on Monday, September 19th. Finally, Zacks Investment Research upgraded CarMax from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $62.16.

Shares of CarMax (NYSE:KMX) opened at 56.89 on Tuesday. The firm has a 50-day moving average price of $51.53 and a 200 day moving average price of $53.60. The firm has a market cap of $10.83 billion, a P/E ratio of 18.49 and a beta of 1.24. CarMax has a one year low of $41.25 and a one year high of $60.81.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. CarMax had a return on equity of 20.92% and a net margin of 3.95%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the company posted $0.79 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts forecast that CarMax will post $3.27 earnings per share for the current fiscal year.

In other CarMax news, Director Jeffrey E. Garten sold 6,300 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $53.41, for a total value of $336,483.00. Following the sale, the director now owns 21,552 shares in the company, valued at $1,151,092.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. raised its position in CarMax by 1,283.1% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,047 shares of the company’s stock valued at $109,000 after buying an additional 1,899 shares during the last quarter. Tower Research Capital LLC TRC raised its position in CarMax by 6.8% in the third quarter. Tower Research Capital LLC TRC now owns 2,077 shares of the company’s stock valued at $111,000 after buying an additional 133 shares during the last quarter. Global X Management Co. LLC raised its position in CarMax by 64.1% in the third quarter. Global X Management Co. LLC now owns 2,405 shares of the company’s stock valued at $128,000 after buying an additional 939 shares during the last quarter. Canada Pension Plan Investment Board raised its position in CarMax by 52.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the company’s stock valued at $133,000 after buying an additional 900 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its position in CarMax by 91.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,086 shares of the company’s stock valued at $151,000 after buying an additional 1,472 shares during the last quarter.

About CarMax

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

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