Franklin Street Advisors Inc. NC Increases Stake in CarMax, Inc. $KMX

Franklin Street Advisors Inc. NC lifted its stake in shares of CarMax, Inc. (NYSE:KMX) by 12.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,418 shares of the company’s stock after buying an additional 504 shares during the period. Franklin Street Advisors Inc. NC’s holdings in CarMax were worth $297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KMX. Fuller & Thaler Asset Management Inc. increased its position in shares of CarMax by 626.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company’s stock valued at $70,364,000 after buying an additional 778,652 shares during the period. Nuveen LLC purchased a new position in shares of CarMax during the first quarter valued at about $33,872,000. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of CarMax during the first quarter valued at about $16,370,000. Wellington Management Group LLP increased its position in shares of CarMax by 34.2% during the first quarter. Wellington Management Group LLP now owns 815,461 shares of the company’s stock valued at $63,541,000 after buying an additional 207,665 shares during the period. Finally, Baird Financial Group Inc. increased its position in shares of CarMax by 7.1% during the first quarter. Baird Financial Group Inc. now owns 3,093,632 shares of the company’s stock valued at $241,056,000 after buying an additional 206,106 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KMX shares. Stephens dropped their price objective on shares of CarMax from $74.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Morgan Stanley dropped their price objective on shares of CarMax from $80.00 to $56.00 and set an “overweight” rating on the stock in a research note on Wednesday. Benchmark started coverage on shares of CarMax in a research note on Thursday, July 17th. They set a “buy” rating and a $75.00 price objective on the stock. Seaport Res Ptn lowered shares of CarMax from a “strong-buy” rating to a “hold” rating in a research note on Sunday, September 28th. Finally, BNP Paribas Exane dropped their price objective on shares of CarMax from $52.00 to $35.00 and set an “underperform” rating on the stock in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.58.

CarMax Trading Up 0.8%

NYSE:KMX opened at $46.42 on Friday. The company’s 50 day moving average price is $56.99 and its 200-day moving average price is $63.94. CarMax, Inc. has a 52 week low of $42.75 and a 52 week high of $91.25. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.87 and a beta of 1.27.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the previous year, the company earned $0.85 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities research analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

CarMax Company Profile

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.