JPMorgan Chase & Co. Trims CarMax (NYSE:KMX) Target Price to $55.00

CarMax (NYSE:KMX) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $60.00 to $55.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 21.21% from the company’s current price.

Other research analysts have also issued research reports about the stock. Oppenheimer reissued an “outperform” rating and set a $105.00 target price on shares of CarMax in a research report on Tuesday, April 9th. Truist Financial cut their target price on shares of CarMax from $75.00 to $72.00 and set a “hold” rating for the company in a research report on Friday, April 12th. Bank of America boosted their target price on shares of CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Royal Bank of Canada reissued an “outperform” rating and set a $83.00 target price on shares of CarMax in a research report on Monday, April 8th. Finally, Wedbush boosted their target price on shares of CarMax from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $77.42.

CarMax Stock Up 0.5 %

KMX stock opened at $69.81 on Monday. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96. CarMax has a 1 year low of $59.66 and a 1 year high of $88.22. The company has a fifty day simple moving average of $78.73 and a 200 day simple moving average of $72.10. The firm has a market cap of $11.02 billion, a PE ratio of 23.04, a PEG ratio of 1.09 and a beta of 1.61.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period in the previous year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that CarMax will post 3.58 EPS for the current fiscal year.

Insider Activity at CarMax

In related news, VP Jill A. Livesay sold 14,199 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the sale, the vice president now owns 9,068 shares of the company’s stock, valued at $642,830.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CarMax news, EVP Diane L. Cafritz sold 22,000 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the sale, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at $355,515.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jill A. Livesay sold 14,199 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the sale, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The disclosure for this sale can be found here. Insiders have sold a total of 38,929 shares of company stock valued at $2,740,901 over the last quarter. 1.66% of the stock is owned by company insiders.

Institutional Trading of CarMax

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in CarMax by 153.3% during the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after buying an additional 207 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of CarMax by 100.0% during the third quarter. CENTRAL TRUST Co now owns 400 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Ronald Blue Trust Inc. grew its stake in shares of CarMax by 194.0% during the third quarter. Ronald Blue Trust Inc. now owns 438 shares of the company’s stock valued at $31,000 after purchasing an additional 289 shares during the last quarter. VitalStone Financial LLC bought a new stake in shares of CarMax during the first quarter valued at approximately $33,000. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of CarMax by 1,081.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after purchasing an additional 400 shares during the last quarter.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.