CarMax (NYSE:KMX) PT Lowered to $55.00 at JPMorgan Chase & Co.

CarMax (NYSE:KMX) had its price target decreased by JPMorgan Chase & Co. from $60.00 to $55.00 in a report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other brokerages also recently commented on KMX. Needham & Company LLC cut their price target on shares of CarMax from $99.00 to $91.00 and set a buy rating for the company in a report on Friday, April 12th. Royal Bank of Canada reissued an outperform rating and issued a $83.00 price target on shares of CarMax in a report on Monday, April 8th. Robert W. Baird cut their price target on shares of CarMax from $88.00 to $84.00 and set an outperform rating for the company in a report on Friday, April 12th. Evercore ISI cut their price target on shares of CarMax from $85.00 to $74.00 and set an in-line rating for the company in a report on Friday, April 12th. Finally, Bank of America raised their price target on shares of CarMax from $44.00 to $50.00 and gave the company an underperform rating in a report on Thursday, February 29th. Three research 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 has an average rating of Hold and a consensus price target of $77.42.

CarMax Stock Down 1.8 %

KMX opened at $68.53 on Monday. The company has a 50 day moving average of $78.66 and a 200 day moving average of $72.07. The company has a market cap of $10.82 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. CarMax has a 12 month low of $59.66 and a 12 month high of $88.22. 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 (NYSE:KMX) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.13). The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business posted $0.44 earnings per share. On average, sell-side analysts expect that CarMax will post 3.49 EPS for the current year.

Insider Buying and Selling

In related news, EVP Diane L. Cafritz sold 22,000 shares of CarMax stock in a transaction on Friday, January 26th. The shares were sold at an average price of $70.08, for a total value of $1,541,760.00. Following the transaction, the executive vice president now owns 5,073 shares in the company, valued at approximately $355,515.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Diane L. Cafritz sold 22,000 shares of CarMax stock in a transaction on Friday, January 26th. The shares were sold at an average price of $70.08, for a total value of $1,541,760.00. Following the transaction, the executive vice president now owns 5,073 shares in the company, valued at approximately $355,515.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jill A. Livesay sold 14,199 shares of CarMax stock in a transaction on 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 completion of the transaction, the vice president now owns 9,068 shares in the company, valued at approximately $642,830.52. The disclosure for this sale can be found here. Insiders have sold a total of 38,929 shares of company stock worth $2,740,901 in the last 90 days. 1.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On CarMax

Hedge funds have recently modified their holdings of the company. ProVise Management Group LLC increased its position in shares of CarMax by 31.5% in the third quarter. ProVise Management Group LLC now owns 58,701 shares of the company’s stock valued at $4,152,000 after acquiring an additional 14,052 shares during the period. Montag A & Associates Inc. increased its position in shares of CarMax by 61.6% in the third quarter. Montag A & Associates Inc. now owns 49,985 shares of the company’s stock valued at $3,535,000 after acquiring an additional 19,056 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of CarMax by 8.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 235,544 shares of the company’s stock valued at $18,076,000 after acquiring an additional 18,914 shares during the period. Corient Private Wealth LLC increased its position in shares of CarMax by 6.9% in the third quarter. Corient Private Wealth LLC now owns 934,259 shares of the company’s stock valued at $66,080,000 after acquiring an additional 60,604 shares during the period. Finally, Invesco Ltd. increased its position in shares of CarMax by 3.1% in the third quarter. Invesco Ltd. now owns 2,938,541 shares of the company’s stock valued at $207,843,000 after acquiring an additional 88,488 shares during the period.

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.