Beaumont Asset Management L.L.C. Makes New Investment in CarMax, Inc. $KMX

Beaumont Asset Management L.L.C. acquired a new position in CarMax, Inc. (NYSE:KMX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,732 shares of the company’s stock, valued at approximately $520,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new stake in CarMax in the 1st quarter worth approximately $27,000. Accent Capital Management LLC purchased a new position in shares of CarMax in the 1st quarter valued at approximately $34,000. Strengthening Families & Communities LLC lifted its stake in shares of CarMax by 93.1% in the 1st quarter. Strengthening Families & Communities LLC now owns 531 shares of the company’s stock valued at $39,000 after purchasing an additional 256 shares during the period. Quarry LP lifted its stake in shares of CarMax by 50.5% in the 1st quarter. Quarry LP now owns 694 shares of the company’s stock valued at $54,000 after purchasing an additional 233 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of CarMax by 49.2% in the 1st quarter. Blue Trust Inc. now owns 898 shares of the company’s stock valued at $70,000 after purchasing an additional 296 shares during the period.

CarMax Stock Performance

NYSE:KMX opened at $44.34 on Thursday. The stock has a 50-day simple moving average of $56.16 and a two-hundred day simple moving average of $63.41. CarMax, Inc. has a 52-week low of $42.75 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. The firm has a market capitalization of $6.51 billion, a PE ratio of 13.00, a P/E/G ratio of 0.84 and a beta of 1.27.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (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 company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the firm posted $0.85 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Evercore ISI restated an “in-line” rating and issued a $52.00 target price (down previously from $80.00) on shares of CarMax in a research note on Friday, September 26th. Stephens cut CarMax from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $53.00 to $42.00 in a research note on Tuesday. Wall Street Zen cut CarMax from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Needham & Company LLC lowered their target price on CarMax from $92.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Finally, Benchmark reduced their price objective on CarMax from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, CarMax presently has a consensus rating of “Hold” and an average target price of $54.42.

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.