CarMax, Inc. $KMX Position Boosted by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC increased its holdings in CarMax, Inc. (NYSE:KMX) by 11.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,132 shares of the company’s stock after buying an additional 623 shares during the quarter. Resonant Capital Advisors LLC’s holdings in CarMax were worth $412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its position in CarMax by 7.1% in the first quarter. Baird Financial Group Inc. now owns 3,093,632 shares of the company’s stock worth $241,056,000 after purchasing an additional 206,106 shares during the period. Invesco Ltd. lifted its holdings in shares of CarMax by 4.9% in the first quarter. Invesco Ltd. now owns 2,863,594 shares of the company’s stock valued at $223,131,000 after purchasing an additional 133,629 shares in the last quarter. First Pacific Advisors LP lifted its holdings in shares of CarMax by 0.8% in the first quarter. First Pacific Advisors LP now owns 2,415,974 shares of the company’s stock valued at $188,253,000 after purchasing an additional 18,912 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of CarMax by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 1,521,704 shares of the company’s stock valued at $118,571,000 after purchasing an additional 20,800 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of CarMax by 7.8% in the first quarter. AQR Capital Management LLC now owns 1,509,344 shares of the company’s stock worth $115,887,000 after acquiring an additional 109,332 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KMX shares. JPMorgan Chase & Co. cut their target price on CarMax from $65.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a research report on Tuesday, October 14th. Benchmark lowered their price target on CarMax from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Stephens downgraded CarMax from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $53.00 to $42.00 in a research report on Tuesday, October 7th. Finally, Zacks Research downgraded CarMax from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.75.

CarMax Stock Up 1.8%

KMX stock opened at $45.06 on Tuesday. 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 business’s 50-day simple moving average is $52.84 and its 200 day simple moving average is $60.25. The company has a market cap of $6.62 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 0.84 and a beta of 1.27. CarMax, Inc. has a twelve month low of $42.34 and a twelve month high of $91.25.

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

CarMax 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.