CarMax, Inc. (NYSE:KMX) Short Interest Down 6.6% in April

CarMax, Inc. (NYSE:KMXGet Free Report) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 19,690,000 shares, a drop of 6.6% from the April 15th total of 21,090,000 shares. Approximately 12.6% of the shares of the company are short sold. Based on an average daily volume of 2,050,000 shares, the days-to-cover ratio is presently 9.6 days.

CarMax Price Performance

NYSE:KMX opened at $72.82 on Friday. The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 1.36 and a beta of 1.64. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26. The stock has a fifty day moving average of $76.31 and a 200 day moving average of $72.76. CarMax has a 52-week low of $59.66 and a 52-week high of $88.22.

CarMax (NYSE:KMXGet Free Report) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. On average, research analysts expect that CarMax will post 3.18 EPS for the current fiscal year.

Insider Activity

In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of CarMax stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the sale, the executive vice president now owns 6,977 shares of the company’s stock, valued at $485,110.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of CarMax by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock valued at $1,387,222,000 after buying an additional 222,132 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of CarMax by 3.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company’s stock worth $392,458,000 after acquiring an additional 210,440 shares during the last quarter. Norges Bank purchased a new stake in shares of CarMax in the 4th quarter valued at $288,278,000. Invesco Ltd. boosted its stake in shares of CarMax by 3.1% in the 3rd quarter. Invesco Ltd. now owns 2,938,541 shares of the company’s stock valued at $207,843,000 after purchasing an additional 88,488 shares in the last quarter. Finally, Morningstar Investment Services LLC raised its position in CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock worth $211,516,000 after purchasing an additional 1,326,840 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Evercore ISI cut their target price on shares of CarMax from $85.00 to $74.00 and set an “in-line” rating for the company in a research report on Friday, April 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $83.00 price objective on shares of CarMax in a research note on Monday, April 8th. JPMorgan Chase & Co. lowered their target price on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Monday, April 15th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of CarMax in a report on Thursday. Finally, Mizuho decreased their price objective on CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $77.42.

View Our Latest Analysis on CarMax

CarMax Company Profile

(Get Free Report)

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.

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