Gagnon Securities LLC Purchases 62,212 Shares of CarMax, Inc. $KMX

Gagnon Securities LLC grew its position in shares of CarMax, Inc. (NYSE:KMX) by 38.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 225,629 shares of the company’s stock after buying an additional 62,212 shares during the quarter. CarMax makes up approximately 2.0% of Gagnon Securities LLC’s portfolio, making the stock its 19th largest position. Gagnon Securities LLC’s holdings in CarMax were worth $10,124,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KMX. AQR Capital Management LLC increased its position in CarMax by 195.3% during the second quarter. AQR Capital Management LLC now owns 4,457,340 shares of the company’s stock worth $298,107,000 after acquiring an additional 2,947,996 shares during the period. Baird Financial Group Inc. increased its holdings in shares of CarMax by 6.6% during the second quarter. Baird Financial Group Inc. now owns 3,298,113 shares of the company’s stock worth $221,666,000 after purchasing an additional 204,481 shares during the period. Norges Bank bought a new position in shares of CarMax during the second quarter worth approximately $208,144,000. Invesco Ltd. raised its position in shares of CarMax by 4.7% in the second quarter. Invesco Ltd. now owns 2,998,928 shares of the company’s stock valued at $201,558,000 after buying an additional 135,334 shares in the last quarter. Finally, First Pacific Advisors LP boosted its stake in shares of CarMax by 0.6% in the second quarter. First Pacific Advisors LP now owns 2,431,244 shares of the company’s stock valued at $163,404,000 after buying an additional 15,270 shares during the period.

Analyst Ratings Changes

A number of research firms have commented on KMX. Royal Bank Of Canada lifted their price objective on CarMax from $34.00 to $37.00 and gave the company a “sector perform” rating in a report on Friday, December 19th. Barclays raised their price target on CarMax from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 21st. Wall Street Zen cut shares of CarMax from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Bank of America increased their price objective on shares of CarMax from $27.00 to $31.00 and gave the stock an “underperform” rating in a research note on Friday, December 19th. Finally, Mizuho dropped their target price on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, CarMax presently has a consensus rating of “Reduce” and a consensus target price of $39.64.

CarMax Stock Performance

CarMax stock opened at $45.50 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.99 and a debt-to-equity ratio of 2.74. The stock has a market cap of $6.45 billion, a PE ratio of 15.01, a P/E/G ratio of 1.13 and a beta of 1.29. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $89.47. The business’s 50-day moving average price is $41.63 and its two-hundred day moving average price is $48.07.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.66 billion. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period last year, the company posted $0.81 EPS. As a group, analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

CarMax Profile

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.