Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in CarMax, Inc. $KMX

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of CarMax, Inc. (NYSE:KMX) by 55.3% in the second quarter, Holdings Channel reports. The institutional investor owned 561,555 shares of the company’s stock after acquiring an additional 200,024 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CarMax were worth $37,742,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Keystone Financial Services grew its position in CarMax by 5.4% in the second quarter. Keystone Financial Services now owns 12,447 shares of the company’s stock worth $837,000 after acquiring an additional 633 shares during the period. True Wealth Design LLC lifted its stake in shares of CarMax by 2,067.9% in the 2nd quarter. True Wealth Design LLC now owns 1,756 shares of the company’s stock valued at $118,000 after purchasing an additional 1,675 shares during the last quarter. MMCAP International Inc. SPC purchased a new position in shares of CarMax during the 2nd quarter worth $1,049,000. Fox Run Management L.L.C. acquired a new stake in shares of CarMax during the 2nd quarter worth about $1,887,000. Finally, Savant Capital LLC increased its position in shares of CarMax by 15.3% during the 2nd quarter. Savant Capital LLC now owns 58,686 shares of the company’s stock worth $3,944,000 after purchasing an additional 7,781 shares during the last quarter.

Analyst Upgrades and Downgrades

KMX has been the subject of several research analyst reports. Wall Street Zen lowered shares of CarMax from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Weiss Ratings restated a “sell (d)” rating on shares of CarMax in a report on Tuesday, October 14th. Evercore ISI dropped their target price on shares of CarMax from $52.00 to $35.00 and set an “in-line” rating for the company in a report on Thursday. Robert W. Baird cut their target price on CarMax from $90.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $30.00 price target (down from $50.00) on shares of CarMax in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.58.

CarMax Stock Performance

Shares of KMX stock opened at $32.31 on Monday. The company has a market cap of $4.74 billion, a P/E ratio of 9.48, a PEG ratio of 0.81 and a beta of 1.26. The firm has a fifty day moving average price of $49.17 and a 200 day moving average price of $58.57. The company has a current ratio of 2.46, a quick ratio of 1.06 and a debt-to-equity ratio of 2.87. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $91.25.

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

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.