CarMax (NYSE:KMX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

CarMax (NYSE:KMX) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $60.00 to $70.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 19.98% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada lifted their price target on CarMax from $41.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. Robert W. Baird upped their price objective on CarMax from $48.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price for the company in a research report on Thursday, June 18th. Finally, Benchmark reiterated a “hold” rating on shares of CarMax in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $51.67.

CarMax Stock Down 0.1%

KMX traded down $0.04 during trading on Friday, hitting $58.34. The company had a trading volume of 514,755 shares, compared to its average volume of 3,071,457. The company has a market cap of $8.28 billion, a PE ratio of 38.24, a P/E/G ratio of 2.71 and a beta of 1.17. The business has a 50-day moving average of $59.43 and a 200-day moving average of $49.34. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. CarMax has a 1-year low of $30.26 and a 1-year high of $65.28.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.35. The company had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. CarMax had a net margin of 0.84% and a return on equity of 6.64%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $1.38 EPS. As a group, analysts forecast that CarMax will post 2.72 earnings per share for the current year.

Insider Transactions at CarMax

In other CarMax news, CEO Keith Barr purchased 9,400 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $53.01 per share, with a total value of $498,294.00. Following the completion of the purchase, the chief executive officer owned 33,375 shares in the company, valued at $1,769,208.75. This trade represents a 39.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sona Chawla purchased 2,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $53.39 per share, for a total transaction of $106,780.00. Following the completion of the acquisition, the director directly owned 21,702 shares of the company’s stock, valued at approximately $1,158,669.78. This trade represents a 10.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 13,900 shares of company stock valued at $735,574. 1.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CarMax

Several large investors have recently bought and sold shares of the stock. Anchor Investment Management LLC acquired a new position in shares of CarMax during the second quarter valued at approximately $37,000. The Manufacturers Life Insurance Company lifted its position in CarMax by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 2,420,139 shares of the company’s stock worth $128,001,000 after purchasing an additional 21,882 shares during the period. Capstone Financial Advisors Inc. lifted its position in CarMax by 5.6% in the second quarter. Capstone Financial Advisors Inc. now owns 9,500 shares of the company’s stock worth $502,000 after purchasing an additional 500 shares during the period. WINTON GROUP Ltd boosted its stake in CarMax by 181.0% during the 2nd quarter. WINTON GROUP Ltd now owns 38,780 shares of the company’s stock valued at $2,051,000 after purchasing an additional 24,977 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in CarMax during the 2nd quarter valued at $3,531,000.

CarMax Company Profile

CarMax, Inc is a specialty retailer of used vehicles and one of the largest automotive retailers in the United States. The company sells a broad selection of used cars, trucks and sport utility vehicles through its retail locations and online platform. CarMax also purchases vehicles from consumers and other sources, providing customers with a streamlined alternative to traditional private-party sales.

In addition to retail sales, CarMax operates wholesale vehicle auctions for vehicles that do not meet its retail standards or business requirements.