Verdence Capital Advisors LLC Increases Position in CarMax, Inc. (NYSE:KMX)

Verdence Capital Advisors LLC boosted its holdings in CarMax, Inc. (NYSE:KMX) by 5.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,285 shares of the company’s stock after purchasing an additional 514 shares during the period. Verdence Capital Advisors LLC’s holdings in CarMax were worth $796,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. First Community Trust NA purchased a new position in shares of CarMax during the 2nd quarter valued at approximately $29,000. Quarry LP raised its holdings in CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock valued at $31,000 after acquiring an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in CarMax during the 3rd quarter valued at $32,000. Blue Trust Inc. grew its holdings in CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares in the last quarter. Finally, Studio Investment Management LLC increased its position in shares of CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after purchasing an additional 334 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $95.00 price objective on shares of CarMax in a report on Wednesday, October 16th. StockNews.com raised CarMax to a “sell” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Royal Bank of Canada reissued an “outperform” rating and set a $82.00 target price on shares of CarMax in a report on Wednesday, October 16th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.73.

CarMax Stock Down 1.2 %

KMX opened at $75.54 on Monday. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. CarMax, Inc. has a 12 month low of $61.73 and a 12 month high of $88.22. The stock’s 50 day moving average price is $75.63 and its 200 day moving average price is $75.19. The stock has a market cap of $11.70 billion, a P/E ratio of 28.40, a P/E/G ratio of 1.54 and a beta of 1.68.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. CarMax’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share. As a group, research analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current 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.