Townsquare Capital LLC Increases Stock Holdings in CarMax, Inc. (NYSE:KMX)

Townsquare Capital LLC lifted its stake in shares of CarMax, Inc. (NYSE:KMX) by 7.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,439 shares of the company’s stock after buying an additional 1,914 shares during the quarter. Townsquare Capital LLC’s holdings in CarMax were worth $2,278,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Community Trust NA purchased a new stake in CarMax in the second quarter valued at $29,000. Quarry LP increased its position in shares of CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after purchasing an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of CarMax in the 3rd quarter valued at about $32,000. Blue Trust Inc. boosted its position in shares of CarMax by 134.1% in the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares during the period. Finally, Studio Investment Management LLC increased its position in CarMax by 176.7% during the second 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 period.

CarMax Stock Performance

Shares of KMX stock opened at $83.97 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. The stock has a 50 day simple moving average of $75.93 and a 200-day simple moving average of $76.20. The company has a market cap of $13.01 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 1.72 and a beta of 1.68. CarMax, Inc. has a 12-month low of $62.90 and a 12-month high of $88.22.

CarMax (NYSE:KMX) last released its earnings results on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. CarMax’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business posted $0.75 EPS. On average, equities analysts forecast that CarMax, Inc. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KMX shares. Truist Financial increased their price objective on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Evercore ISI raised their price objective on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, October 17th. Wedbush restated an “outperform” rating and issued a $95.00 price objective on shares of CarMax in a research note on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price target on CarMax from $55.00 to $65.00 and gave the company an “underweight” rating in a research report on Thursday, September 19th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.73.

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.