Quarry LP Has $91,000 Position in CarMax, Inc. (NYSE:KMX)

Quarry LP boosted its holdings in CarMax, Inc. (NYSE:KMX) by 181.1% during the third quarter, HoldingsChannel.com reports. The fund owned 1,175 shares of the company’s stock after purchasing an additional 757 shares during the period. Quarry LP’s holdings in CarMax were worth $91,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Community Trust NA bought a new stake in shares of CarMax in the 2nd quarter valued at approximately $29,000. Catalyst Capital Advisors LLC bought a new stake in CarMax in the third quarter valued at $32,000. True Wealth Design LLC raised its stake in CarMax by 4,844.4% during the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after acquiring an additional 436 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares during the period. Finally, Studio Investment Management LLC boosted its stake in shares of CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after purchasing an additional 334 shares in the last quarter.

CarMax Stock Performance

Shares of NYSE:KMX opened at $86.23 on Friday. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a 1-year low of $65.38 and a 1-year high of $88.22. The stock has a market capitalization of $13.36 billion, a P/E ratio of 32.42, a P/E/G ratio of 1.70 and a beta of 1.71. The business has a 50-day moving average price of $76.71 and a two-hundred day moving average price of $76.60.

CarMax (NYSE:KMX) last posted its quarterly earnings results 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). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period last year, the firm earned $0.75 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. Equities analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of CarMax in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on CarMax from $65.00 to $70.00 and gave the stock an “underweight” rating in a research report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Finally, Stephens began coverage on CarMax in a research note on Thursday. They issued an “equal weight” rating and a $86.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $81.00.

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.