CarMax (NYSE:KMX) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CarMax (NYSE:KMX) from an underweight rating to a neutral rating in a research report released on Wednesday morning, Marketbeat.com reports. The brokerage currently has $60.00 price target on the stock, up from their prior price target of $38.00.

Other research analysts have also recently issued reports about the company. Royal Bank Of Canada upped their price objective on CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 18th. Barclays raised CarMax from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $37.00 to $61.00 in a research report on Tuesday, July 21st. Argus upgraded CarMax to a “hold” rating in a research note on Thursday, April 16th. Bank of America boosted their target price on CarMax from $40.00 to $45.00 and gave the stock an “underperform” rating in a research note on Wednesday, June 17th. Finally, Robert W. Baird upped their price target on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $51.00.

CarMax Price Performance

CarMax stock opened at $57.33 on Wednesday. The stock has a market cap of $8.14 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17. The company has a fifty day simple moving average of $51.74 and a 200-day simple moving average of $45.73. CarMax has a 12-month low of $30.26 and a 12-month high of $62.56. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX) last posted its earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. CarMax’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts expect that CarMax will post 2.7 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, Director Peter J. Bensen acquired 2,500 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was bought at an average price of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the purchase, the director directly owned 24,796 shares of the company’s stock, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith Barr acquired 9,400 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $53.01 per share, for a total transaction of $498,294.00. Following the acquisition, the chief executive officer owned 33,375 shares of the company’s stock, valued at approximately $1,769,208.75. The trade was a 39.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 13,900 shares of company stock worth $735,574 over the last 90 days. Corporate insiders own 1.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Shrier Wealth Management LLC acquired a new position in CarMax during the second quarter worth approximately $217,000. Basecamp Wealth Advisors LLC lifted its stake in CarMax by 105.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 327 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of CarMax in the first quarter valued at approximately $48,634,000. NewEdge Advisors LLC boosted its holdings in shares of CarMax by 63.0% in the first quarter. NewEdge Advisors LLC now owns 69,568 shares of the company’s stock valued at $2,893,000 after acquiring an additional 26,888 shares during the period. Finally, Blue Edge Capital LLC acquired a new position in shares of CarMax in the 1st quarter valued at $304,000.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.