Merit Financial Group LLC Cuts Position in CarMax, Inc. $KMX

Merit Financial Group LLC lessened its holdings in shares of CarMax, Inc. (NYSE:KMX) by 56.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,347 shares of the company’s stock after selling 17,426 shares during the quarter. Merit Financial Group LLC’s holdings in CarMax were worth $599,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of KMX. CYBER HORNET ETFs LLC purchased a new position in shares of CarMax in the 2nd quarter valued at $28,000. MUFG Securities EMEA plc acquired a new stake in CarMax in the 2nd quarter valued at $30,000. ST Germain D J Co. Inc. raised its position in CarMax by 88.5% in the third quarter. ST Germain D J Co. Inc. now owns 1,331 shares of the company’s stock valued at $60,000 after purchasing an additional 625 shares during the period. Hollencrest Capital Management lifted its stake in shares of CarMax by 39.9% during the second quarter. Hollencrest Capital Management now owns 1,052 shares of the company’s stock worth $71,000 after purchasing an additional 300 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of CarMax by 25.8% during the second quarter. Blue Trust Inc. now owns 1,130 shares of the company’s stock worth $76,000 after purchasing an additional 232 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KMX. Mizuho reduced their target price on shares of CarMax from $46.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, December 19th. Evercore ISI reaffirmed a “reduce” rating and set a $36.00 target price on shares of CarMax in a research report on Friday, December 19th. Morgan Stanley set a $35.00 price target on CarMax in a research note on Monday, December 8th. BNP Paribas Exane lowered their price objective on CarMax from $52.00 to $35.00 and set an “underperform” rating for the company in a research note on Friday, September 26th. Finally, Barclays dropped their price objective on CarMax from $28.00 to $24.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, CarMax currently has an average rating of “Reduce” and an average price target of $39.36.

CarMax Stock Performance

CarMax stock opened at $44.60 on Friday. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.99 and a quick ratio of 0.51. CarMax, Inc. has a 12 month low of $30.26 and a 12 month high of $89.47. The company has a fifty day moving average price of $38.20 and a two-hundred day moving average price of $50.28. The company has a market cap of $6.32 billion, a PE ratio of 14.72, a P/E/G ratio of 1.03 and a beta of 1.29.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 18th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. CarMax had a net margin of 1.77% and a return on equity of 7.72%. The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the firm posted $0.81 EPS. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. Research analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current year.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.