Elgethun Capital Management Invests $469,000 in CarMax, Inc. $KMX

Elgethun Capital Management bought a new position in shares of CarMax, Inc. (NYSE:KMX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,125 shares of the company’s stock, valued at approximately $469,000.

Several other hedge funds have also made changes to their positions in the business. Huntington National Bank lifted its position in CarMax by 62.4% in the fourth quarter. Huntington National Bank now owns 690 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in CarMax in the second quarter valued at about $28,000. MUFG Securities EMEA plc acquired a new stake in CarMax in the second quarter valued at about $30,000. Center for Financial Planning Inc. acquired a new stake in CarMax in the third quarter valued at about $31,000. Finally, Advisory Services Network LLC acquired a new stake in CarMax in the third quarter valued at about $32,000.

CarMax Price Performance

KMX stock opened at $46.09 on Thursday. The firm has a 50 day moving average of $40.80 and a 200-day moving average of $41.47. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $71.99. The company has a current ratio of 2.20, a quick ratio of 0.49 and a debt-to-equity ratio of 2.93. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.66 and a beta of 1.21.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the firm earned $0.58 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities analysts expect that CarMax, Inc. will post 2.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KMX has been the subject of a number of recent analyst reports. Barclays reduced their price objective on shares of CarMax from $28.00 to $26.00 and set an “underweight” rating for the company in a research report on Thursday, April 16th. JPMorgan Chase & Co. raised their price objective on shares of CarMax from $28.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. Wall Street Zen downgraded shares of CarMax from a “hold” rating to a “sell” rating in a research report on Sunday. Stephens raised their price objective on shares of CarMax from $39.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, April 2nd. Finally, Evercore set a $45.00 price objective on shares of CarMax in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $41.27.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.