William D. Nash Sells 120,000 Shares of CarMax, Inc. (NYSE:KMX) Stock

CarMax, Inc. (NYSE:KMX) CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total value of $9,554,400.00. Following the sale, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $14,465,600.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

CarMax Stock Up 2.0 %

Shares of CarMax stock traded up $1.62 on Friday, hitting $81.33. 1,535,808 shares of the company traded hands, compared to its average volume of 2,031,694. The company has a 50-day moving average price of $71.54 and a 200 day moving average price of $73.95. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. CarMax, Inc. has a 12-month low of $59.66 and a 12-month high of $88.22. The company has a market cap of $12.69 billion, a PE ratio of 31.13, a PEG ratio of 1.53 and a beta of 1.69.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The business had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.16 billion. During the same period in the previous year, the company posted $1.16 EPS. CarMax’s revenue was down 7.5% on a year-over-year basis. Sell-side analysts predict that CarMax, Inc. will post 3.02 earnings per share for the current year.

Institutional Trading of CarMax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank grew its stake in CarMax by 579.4% during the third quarter. Comerica Bank now owns 59,274 shares of the company’s stock worth $4,192,000 after buying an additional 50,550 shares during the last quarter. Deutsche Bank AG grew its stake in CarMax by 11.8% during the third quarter. Deutsche Bank AG now owns 403,919 shares of the company’s stock worth $28,569,000 after buying an additional 42,676 shares during the last quarter. American Century Companies Inc. lifted its position in shares of CarMax by 674.3% during the third quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock worth $57,059,000 after purchasing an additional 702,526 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of CarMax during the third quarter worth approximately $71,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of CarMax by 170.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,049 shares of the company’s stock worth $311,000 after purchasing an additional 2,550 shares in the last quarter.

Analyst Upgrades and Downgrades

KMX has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on CarMax from $88.00 to $84.00 and set an “outperform” rating on the stock in a report on Friday, April 12th. Evercore ISI decreased their price target on shares of CarMax from $73.00 to $68.00 and set an “in-line” rating on the stock in a research report on Thursday, June 20th. Argus upgraded shares of CarMax to a “hold” rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. decreased their price target on shares of CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Monday, April 15th. Finally, Needham & Company LLC decreased their price target on shares of CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, CarMax has a consensus rating of “Hold” and an average price target of $75.50.

About CarMax

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.