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

CarMax (NYSE:KMX) had its price objective decreased by JPMorgan Chase & Co. from $60.00 to $55.00 in a research note issued to investors on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

KMX has been the subject of a number of other reports. Wedbush lifted their target price on shares of CarMax from $90.00 to $100.00 and gave the stock an outperform rating in a research note on Tuesday, April 2nd. Oppenheimer reiterated an outperform rating and issued a $105.00 target price on shares of CarMax in a research note on Tuesday, April 9th. Mizuho lowered their target price on shares of CarMax from $80.00 to $75.00 and set a neutral rating for the company in a research note on Friday, April 12th. Needham & Company LLC lowered their target price on shares of CarMax from $99.00 to $91.00 and set a buy rating for the company in a research note on Friday, April 12th. Finally, Bank of America lifted their target price on shares of CarMax from $44.00 to $50.00 and gave the stock an underperform rating in a research note on Thursday, February 29th. Three equities 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 company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $77.42.

CarMax Stock Down 1.8 %

NYSE:KMX opened at $68.53 on Monday. CarMax has a fifty-two week low of $59.66 and a fifty-two week high of $88.22. The stock has a market capitalization of $10.82 billion, a P/E ratio of 22.62, a P/E/G ratio of 1.09 and a beta of 1.61. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26. The company’s 50-day simple moving average is $78.66 and its 200-day simple moving average is $72.07.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities analysts anticipate that CarMax will post 3.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Diane L. Cafritz sold 22,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 5,073 shares in the company, valued at $355,515.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,929 shares of company stock worth $2,740,901. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in CarMax in the fourth quarter valued at $288,278,000. Morningstar Investment Services LLC raised its stake in CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after purchasing an additional 1,326,840 shares during the last quarter. Wellington Management Group LLP raised its stake in CarMax by 29.4% in the 1st quarter. Wellington Management Group LLP now owns 3,548,930 shares of the company’s stock valued at $342,400,000 after purchasing an additional 805,438 shares during the last quarter. American Century Companies Inc. raised its stake in CarMax by 674.3% in the 3rd quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock valued at $57,059,000 after purchasing an additional 702,526 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in CarMax by 2,311.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 603,659 shares of the company’s stock valued at $42,697,000 after purchasing an additional 578,622 shares during the last quarter.

CarMax Company Profile

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.