Crux Wealth Advisors Buys 7,822 Shares of CarMax, Inc. $KMX

Key Points

• Crux Wealth Advisors increased its holdings in CarMax, Inc. by 50.2% in Q2, acquiring an additional 7,822 shares, bringing their total to 23,408 shares valued at approximately $1.57 million.
• A number of equities analysts have adjusted their ratings on CarMax, with Stephens revising their rating from "overweight" to "equal weight" and lowering their price target from $53 to $42.
• CarMax reported Q2 earnings significantly below expectations, with an earnings per share of $0.64 compared to the consensus estimate of $1.03, indicating a revenue decline of 6.0% year-over-year.

Crux Wealth Advisors grew its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 50.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,408 shares of the company's stock after purchasing an additional 7,822 shares during the period. Crux Wealth Advisors' holdings in CarMax were worth $1,573,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in CarMax by 12.6% during the first quarter. GAMMA Investing LLC now owns 6,620 shares of the company's stock valued at $516,000 after buying an additional 742 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of CarMax by 2.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,143 shares of the company's stock valued at $1,258,000 after acquiring an additional 380 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of CarMax by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 18,022 shares of the company's stock valued at $1,404,000 after purchasing an additional 355 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of CarMax by 49.2% in the first quarter. Blue Trust Inc. now owns 898 shares of the company's stock valued at $70,000 after purchasing an additional 296 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in CarMax by 4.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 44,845 shares of the company's stock worth $3,494,000 after purchasing an additional 2,050 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stephens cut shares of CarMax from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $53.00 to $42.00 in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of CarMax in a report on Tuesday, October 14th. Royal Bank Of Canada dropped their price target on CarMax from $81.00 to $59.00 and set an "outperform" rating for the company in a research report on Friday, September 26th. Needham & Company LLC decreased their price objective on CarMax from $92.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, September 26th. Finally, Robert W. Baird lowered their price objective on CarMax from $90.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $51.75.

CarMax Stock Down 0.8%

Shares of NYSE:KMX opened at $42.91 on Friday. The firm has a market capitalization of $6.30 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.82 and a beta of 1.27. The business has a 50 day simple moving average of $54.47 and a two-hundred day simple moving average of $61.70. CarMax, Inc. has a 1 year low of $42.43 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.46 and a quick ratio of 1.06.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.03 by ($0.39). The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $7.07 billion. CarMax had a return on equity of 8.51% and a net margin of 1.98%.CarMax's revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. On average, equities analysts predict that CarMax, Inc. will post 3.23 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.

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