Azora Capital LP Makes New Investment in CarMax, Inc. $KMX

Azora Capital LP acquired a new stake in CarMax, Inc. (NYSE:KMX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 681,343 shares of the company’s stock, valued at approximately $45,793,000. CarMax accounts for about 2.1% of Azora Capital LP’s investment portfolio, making the stock its 21st biggest holding. Azora Capital LP owned 0.45% of CarMax at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in CarMax in the 2nd quarter valued at approximately $208,144,000. Arrowstreet Capital Limited Partnership increased its holdings in CarMax by 1,410.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,028,718 shares of the company’s stock worth $136,350,000 after purchasing an additional 1,894,408 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in CarMax by 626.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company’s stock valued at $70,364,000 after purchasing an additional 778,652 shares in the last quarter. Nuveen LLC purchased a new position in shares of CarMax in the 1st quarter valued at about $33,872,000. Finally, Acadian Asset Management LLC boosted its stake in shares of CarMax by 3,921.2% in the 2nd quarter. Acadian Asset Management LLC now owns 375,862 shares of the company’s stock valued at $25,261,000 after buying an additional 366,515 shares during the period.

CarMax Stock Down 0.4%

CarMax stock opened at $39.09 on Wednesday. The company has a market capitalization of $5.74 billion, a P/E ratio of 11.46, a PEG ratio of 0.89 and a beta of 1.29. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 2.46. CarMax, Inc. has a fifty-two week low of $30.26 and a fifty-two week high of $91.25. The stock has a 50-day simple moving average of $40.01 and a 200-day simple moving average of $53.96.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.07 billion. CarMax had a net margin of 1.98% and a return on equity of 8.51%. CarMax’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. Equities research analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of CarMax from $35.00 to $37.00 and gave the stock an “in-line” rating in a research note on Tuesday. William Blair lowered shares of CarMax from an “outperform” rating to a “market perform” rating in a report on Thursday, November 6th. Stephens cut shares of CarMax from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $53.00 to $42.00 in a research report on Tuesday, October 7th. Wedbush restated a “neutral” rating and issued a $40.00 price target on shares of CarMax in a research note on Tuesday, November 18th. Finally, BNP Paribas Exane decreased their price target on CarMax from $52.00 to $35.00 and set an “underperform” rating for the company in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, CarMax currently has an average rating of “Reduce” and a consensus target price of $41.69.

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.