CarMax, Inc. (NYSE:KMX) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its stake in CarMax, Inc. (NYSE:KMX) by 28.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 205,808 shares of the company’s stock after selling 83,642 shares during the period. Oppenheimer & Co. Inc.’s holdings in CarMax were worth $15,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Community Trust NA purchased a new position in shares of CarMax in the second quarter worth $29,000. Quarry LP raised its holdings in shares of CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after buying an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of CarMax in the third quarter worth $32,000. Blue Trust Inc. raised its holdings in shares of CarMax by 134.1% in the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after buying an additional 287 shares during the last quarter. Finally, Studio Investment Management LLC increased its stake in shares of CarMax by 176.7% in the second quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after acquiring an additional 334 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on KMX shares. JPMorgan Chase & Co. increased their price objective on shares of CarMax from $55.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, September 19th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Wedbush reissued an “outperform” rating and issued a $95.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Finally, Evercore ISI raised their price target on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, October 17th. Four investment 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 an average rating of “Hold” and a consensus target price of $79.73.

CarMax Stock Up 1.4 %

NYSE KMX traded up $1.10 on Wednesday, hitting $77.79. 744,741 shares of the stock were exchanged, compared to its average volume of 1,892,389. The company has a market cap of $12.05 billion, a PE ratio of 28.83, a PEG ratio of 1.56 and a beta of 1.68. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a fifty-two week low of $62.76 and a fifty-two week high of $88.22. The company has a 50-day moving average price of $75.35 and a 200-day moving average price of $75.29.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The firm had revenue of $7.01 billion for 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 firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. Sell-side analysts anticipate that CarMax, Inc. will post 2.99 EPS 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.