CarMax’s (KMX) Underweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their underweight rating on shares of CarMax (NYSE:KMX) in a report released on Thursday, Marketbeat.com reports. They currently have a $30.00 price objective on the stock, down from their previous price objective of $50.00.

Several other research analysts also recently issued reports on KMX. Royal Bank Of Canada dropped their price objective on shares of CarMax from $81.00 to $59.00 and set an “outperform” rating on the stock in a report on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CarMax in a report on Tuesday, October 14th. Morgan Stanley reduced their price objective on CarMax from $80.00 to $56.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Seaport Res Ptn cut CarMax from a “strong-buy” rating to a “hold” rating in a research report on Sunday, September 28th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $52.00 target price (down from $80.00) on shares of CarMax in a research report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, CarMax currently has a consensus rating of “Hold” and an average price target of $45.58.

CarMax Stock Performance

KMX opened at $32.31 on Thursday. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. The stock’s 50 day moving average price is $49.17 and its two-hundred day moving average price is $58.62. The firm has a market capitalization of $4.74 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26. CarMax has a 12-month low of $30.26 and a 12-month high of $91.25.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, September 25th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.39). CarMax had a net margin of 1.98% and a return on equity of 8.51%. The business had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the company posted $0.85 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. On average, equities analysts forecast that CarMax will post 3.23 earnings per share for the current year.

Hedge Funds Weigh In On CarMax

A number of institutional investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd bought a new position in CarMax in the second quarter valued at about $5,758,000. Hantz Financial Services Inc. lifted its position in CarMax by 45.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 191,827 shares of the company’s stock valued at $12,893,000 after purchasing an additional 59,840 shares during the period. Avior Wealth Management LLC boosted its stake in shares of CarMax by 6,129.3% in the 2nd quarter. Avior Wealth Management LLC now owns 9,344 shares of the company’s stock valued at $628,000 after purchasing an additional 9,194 shares during the last quarter. Gagnon Securities LLC grew its position in shares of CarMax by 3.9% during the 2nd quarter. Gagnon Securities LLC now owns 163,417 shares of the company’s stock worth $10,983,000 after buying an additional 6,067 shares during the period. Finally, AlphaQuest LLC grew its position in shares of CarMax by 461.3% during the 2nd quarter. AlphaQuest LLC now owns 7,174 shares of the company’s stock worth $482,000 after buying an additional 5,896 shares during the period.

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.