Daiwa Securities Group Inc. Boosts Stake in CarMax, Inc. (NYSE:KMX)

Daiwa Securities Group Inc. grew its position in shares of CarMax, Inc. (NYSE:KMX) by 7.4% during the third quarter, Holdings Channel reports. The fund owned 27,036 shares of the company’s stock after purchasing an additional 1,871 shares during the period. Daiwa Securities Group Inc.’s holdings in CarMax were worth $2,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KMX. First Community Trust NA purchased a new position in shares of CarMax during the 2nd quarter worth approximately $29,000. Quarry LP grew its holdings in shares of CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of CarMax during the 3rd quarter worth approximately $32,000. Blue Trust Inc. grew its holdings in shares of CarMax by 134.1% during the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares during the period. Finally, Studio Investment Management LLC grew 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 worth $38,000 after buying an additional 334 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KMX. Wedbush restated an “outperform” rating and issued a $95.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Evercore ISI upped their price target on CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, October 17th. Royal Bank of Canada restated an “outperform” rating and issued a $82.00 price target on shares of CarMax in a research note on Wednesday, October 16th. BNP Paribas upgraded CarMax to a “strong sell” rating in a research note on Friday, September 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $79.73.

CarMax Stock Performance

KMX stock opened at $84.59 on Friday. The stock’s 50 day simple moving average is $75.62 and its 200 day simple moving average is $76.07. The stock has a market capitalization of $13.10 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 1.73 and a beta of 1.68. 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 12-month low of $62.90 and a 12-month high of $88.22.

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 analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.83 billion. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the business earned $0.75 earnings per share. As a group, research analysts forecast that CarMax, Inc. will post 2.99 earnings per share for the current fiscal 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.