Klingman & Associates LLC Grows Stake in CarMax, Inc. (NYSE:KMX)

Klingman & Associates LLC lifted its stake in shares of CarMax, Inc. (NYSE:KMX) by 11.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,110 shares of the company’s stock after purchasing an additional 325 shares during the period. Klingman & Associates LLC’s holdings in CarMax were worth $241,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in CarMax by 1.3% in the first quarter. Janney Montgomery Scott LLC now owns 27,448 shares of the company’s stock worth $2,391,000 after buying an additional 342 shares during the last quarter. Empirical Finance LLC lifted its holdings in CarMax by 3.4% during the first quarter. Empirical Finance LLC now owns 5,844 shares of the company’s stock valued at $509,000 after purchasing an additional 191 shares during the last quarter. SG Americas Securities LLC lifted its holdings in CarMax by 7.9% during the first quarter. SG Americas Securities LLC now owns 22,939 shares of the company’s stock valued at $1,998,000 after purchasing an additional 1,688 shares during the last quarter. Wealthspire Advisors LLC boosted its position in CarMax by 22.0% during the first quarter. Wealthspire Advisors LLC now owns 4,200 shares of the company’s stock worth $366,000 after purchasing an additional 757 shares during the period. Finally, Forsta AP Fonden increased its stake in shares of CarMax by 8.2% in the first quarter. Forsta AP Fonden now owns 34,200 shares of the company’s stock worth $2,979,000 after purchasing an additional 2,600 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KMX. 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. Evercore ISI boosted their price objective on CarMax from $76.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, October 17th. Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, September 19th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research note on Friday, October 4th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $79.73.

CarMax Stock Performance

CarMax stock opened at $75.54 on Friday. CarMax, Inc. has a fifty-two week low of $61.73 and a fifty-two week high of $88.22. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25. The stock has a market cap of $11.70 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 1.57 and a beta of 1.68. The firm’s fifty day moving average price is $75.63 and its 200-day moving average price is $75.15.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. On average, equities research analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current fiscal 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.