Janney Montgomery Scott LLC Buys 1,853 Shares of CarMax, Inc. $KMX

Janney Montgomery Scott LLC raised its stake in CarMax, Inc. (NYSE:KMX) by 11.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,996 shares of the company’s stock after acquiring an additional 1,853 shares during the period. Janney Montgomery Scott LLC’s holdings in CarMax were worth $1,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redmond Asset Management LLC grew its stake in CarMax by 0.3% in the first quarter. Redmond Asset Management LLC now owns 50,803 shares of the company’s stock worth $3,959,000 after purchasing an additional 152 shares during the period. Maia Wealth LLC grew its stake in CarMax by 0.6% in the first quarter. Maia Wealth LLC now owns 26,099 shares of the company’s stock worth $2,034,000 after purchasing an additional 157 shares during the period. Jones Financial Companies Lllp grew its stake in CarMax by 3.1% in the first quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after purchasing an additional 161 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CarMax by 0.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock worth $2,446,000 after purchasing an additional 173 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in CarMax by 5.5% in the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company’s stock worth $262,000 after purchasing an additional 176 shares during the period.

CarMax Trading Down 2.3%

CarMax stock opened at $43.09 on Monday. 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, Inc. has a one year low of $42.75 and a one year high of $91.25. The stock has a market capitalization of $6.33 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.82 and a beta of 1.27. The business’s fifty day moving average is $55.65 and its 200 day moving average is $62.81.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, September 25th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same period last year, the business earned $0.85 earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. On average, sell-side analysts predict that CarMax, Inc. will post 3.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KMX. Robert W. Baird reduced their price target on CarMax from $90.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Royal Bank Of Canada reduced their price target on CarMax from $81.00 to $59.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Truist Financial reduced their price target on CarMax from $74.00 to $47.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Wedbush cut CarMax from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $84.00 to $54.00 in a research note on Thursday, September 25th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of CarMax in a research note on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, CarMax has a consensus rating of “Hold” and a consensus price target of $54.42.

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.