MQS Management LLC Acquires Shares of 2,632 CarMax, Inc. (NYSE:KMX)

MQS Management LLC acquired a new stake in shares of CarMax, Inc. (NYSE:KMX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,632 shares of the company’s stock, valued at approximately $204,000.

Other large investors have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its stake in CarMax by 29.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 167,138 shares of the company’s stock valued at $14,573,000 after buying an additional 37,660 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in CarMax by 10.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 186,408 shares of the company’s stock valued at $16,238,000 after buying an additional 17,557 shares during the last quarter. Swedbank AB purchased a new position in CarMax during the first quarter valued at $1,406,000. CWM LLC raised its stake in shares of CarMax by 69.6% in the second quarter. CWM LLC now owns 17,776 shares of the company’s stock worth $1,304,000 after purchasing an additional 7,294 shares during the last quarter. Finally, AMF Tjanstepension AB purchased a new position in shares of CarMax in the second quarter worth $7,736,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Truist Financial boosted their price target on CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. StockNews.com upgraded CarMax to a “sell” rating in a research note on Friday, July 26th. Oppenheimer restated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Friday, October 4th. Finally, Wedbush restated an “outperform” rating and issued a $95.00 price target on shares of CarMax in a research note on Wednesday, October 16th. 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. According to data from MarketBeat.com, CarMax presently has a consensus rating of “Hold” and an average price target of $79.73.

CarMax Stock Performance

NYSE:KMX opened at $78.03 on Friday. The stock has a 50-day simple moving average of $75.18 and a two-hundred day simple moving average of $75.39. CarMax, Inc. has a 52-week low of $62.76 and a 52-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 firm has a market capitalization of $12.09 billion, a PE ratio of 29.33, a P/E/G ratio of 1.58 and a beta of 1.68.

CarMax (NYSE:KMX) last released 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). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the prior year, the firm posted $0.75 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. Analysts forecast that CarMax, Inc. will post 2.99 EPS for the current year.

CarMax Company 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.