Summit Trail Advisors LLC Sells 983 Shares of CarMax, Inc. (NYSE:KMX)

Summit Trail Advisors LLC reduced its stake in shares of CarMax, Inc. (NYSE:KMX) by 8.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,962 shares of the company’s stock after selling 983 shares during the period. Summit Trail Advisors LLC’s holdings in CarMax were worth $848,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First Community Trust NA bought a new position in CarMax during the second quarter valued at $29,000. Quarry LP grew its stake 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 stake in CarMax in the 3rd quarter worth about $32,000. Blue Trust Inc. increased its holdings in CarMax by 134.1% in 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 last quarter. Finally, Studio Investment Management LLC raised its stake in CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock valued at $38,000 after acquiring an additional 334 shares during the period.

CarMax Trading Up 4.4 %

Shares of KMX opened at $85.15 on Tuesday. CarMax, Inc. has a 1-year low of $62.90 and a 1-year high of $88.22. The company has a market capitalization of $13.19 billion, a P/E ratio of 32.01, a P/E/G ratio of 1.66 and a beta of 1.68. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. The firm’s 50 day simple moving average is $75.36 and its 200 day simple moving average is $75.92.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the business posted $0.75 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts forecast that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

KMX has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of CarMax in a report on Friday, October 4th. Truist Financial boosted their target price on shares of CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price target on shares of CarMax in a report on Wednesday, October 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective 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 assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.