Oppenheimer & Co. Inc. Sells 83,642 Shares of CarMax, Inc. (NYSE:KMX)

Oppenheimer & Co. Inc. trimmed its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 28.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,808 shares of the company's stock after selling 83,642 shares during the period. Oppenheimer & Co. Inc. owned 0.13% of CarMax worth $15,925,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of KMX. First Community Trust NA purchased a new position in CarMax during the second quarter valued at $29,000. Quarry LP grew its stake in CarMax by 78.6% during the second quarter. Quarry LP now owns 418 shares of the company's stock valued at $31,000 after acquiring an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in CarMax during the third quarter valued at $32,000. Blue Trust Inc. grew its stake in CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company's stock valued at $37,000 after acquiring an additional 287 shares in the last quarter. Finally, Studio Investment Management LLC grew its stake in CarMax by 176.7% during the second quarter. Studio Investment Management LLC now owns 523 shares of the company's stock valued at $38,000 after acquiring an additional 334 shares in the last quarter.

CarMax Trading Up 1.5 %

KMX traded up $1.17 on Wednesday, reaching $77.86. 2,167,403 shares of the company traded hands, compared to its average volume of 1,899,380. CarMax, Inc. has a one year low of $62.76 and a one year high of $88.22. The firm has a fifty day simple moving average of $75.35 and a two-hundred day simple moving average of $75.29. The company has a market cap of $12.06 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 1.56 and a beta of 1.68. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $6.83 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The company's quarterly revenue was down .9% compared to the same quarter last year. As a group, equities research analysts expect that CarMax, Inc. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price objective on shares of CarMax in a research note on Wednesday, October 16th. StockNews.com raised shares of CarMax to a "sell" rating in a research note on Friday, July 26th. Evercore ISI lifted their price objective on shares of CarMax from $76.00 to $79.00 and gave the stock an "in-line" rating in a research note on Thursday, October 17th. Oppenheimer reissued an "outperform" rating and issued a $105.00 price objective on shares of CarMax in a research note on Friday, October 4th. Finally, Wedbush reissued an "outperform" rating and issued a $95.00 price objective on shares of CarMax in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $79.73.

About CarMax

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.