CarMax (NYSE:KMX) Given New $65.00 Price Target at JPMorgan Chase & Co.

CarMax (NYSE:KMX) had its price objective increased by JPMorgan Chase & Co. from $58.00 to $65.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

KMX has been the subject of a number of other reports. Evercore ISI dropped their price target on CarMax from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Mizuho lowered their price objective on CarMax from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, July 3rd. Stephens lowered their price objective on CarMax from $81.00 to $74.00 and set an “overweight” rating for the company in a research report on Monday. Wedbush reissued an “outperform” rating and issued a $84.00 price objective on shares of CarMax in a research report on Tuesday, August 19th. Finally, Truist Financial lifted their price objective on CarMax from $72.00 to $74.00 and gave the stock a “hold” rating in a research report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, CarMax has an average rating of “Moderate Buy” and an average price target of $81.50.

CarMax Stock Up 1.5%

NYSE KMX opened at $60.00 on Thursday. The business has a fifty day moving average price of $59.75 and a two-hundred day moving average price of $65.77. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. CarMax has a fifty-two week low of $54.53 and a fifty-two week high of $91.25. The stock has a market capitalization of $9.00 billion, a PE ratio of 16.58, a PEG ratio of 0.96 and a beta of 1.35.

CarMax (NYSE:KMX) last released its earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the prior year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts expect that CarMax will post 3.23 earnings per share for the current fiscal year.

Insider Activity at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the sale, the executive vice president directly owned 2,779 shares in the company, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of CarMax

Several large investors have recently made changes to their positions in the company. Quantinno Capital Management LP lifted its position in CarMax by 125.6% in the 4th quarter. Quantinno Capital Management LP now owns 19,707 shares of the company’s stock valued at $1,611,000 after acquiring an additional 10,973 shares in the last quarter. Woodline Partners LP bought a new position in CarMax in the 4th quarter valued at about $761,000. Waverly Advisors LLC lifted its position in CarMax by 2.5% in the 4th quarter. Waverly Advisors LLC now owns 15,091 shares of the company’s stock valued at $1,234,000 after acquiring an additional 366 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in CarMax by 10.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,672,485 shares of the company’s stock valued at $136,742,000 after acquiring an additional 162,160 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new position in CarMax in the 4th quarter valued at about $207,000.

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.