JPMorgan Chase & Co. Lowers CarMax (NYSE:KMX) Price Target to $65.00

CarMax (NYSE:KMX - Free Report) had its price target reduced by JPMorgan Chase & Co. from $72.00 to $65.00 in a research note published on Thursday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other brokerages also recently commented on KMX. StockNews.com upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research report on Friday, December 20th. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Mizuho boosted their target price on CarMax from $72.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, December 20th. Royal Bank of Canada raised their price target on CarMax from $92.00 to $99.00 and gave the company an "overweight" rating in a report on Thursday, December 19th. Finally, Truist Financial upped their price objective on CarMax from $72.00 to $88.00 and gave the stock a "hold" rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $90.18.

Remove Ads

CarMax Stock Performance

KMX stock traded up $1.42 during trading on Thursday, hitting $77.41. The company had a trading volume of 1,168,834 shares, compared to its average volume of 1,872,875. The firm has a 50-day moving average price of $80.45 and a 200-day moving average price of $79.33. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The firm has a market cap of $11.91 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. CarMax has a 1-year low of $65.83 and a 1-year high of $91.25.

Insider Activity at CarMax

In other news, EVP Mohammad Shamim sold 12,845 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $81.94, for a total value of $1,052,519.30. Following the sale, the executive vice president now directly owns 11,738 shares in the company, valued at $961,811.72. This represents a 52.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the sale, the senior vice president now directly owns 227 shares in the company, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,709 shares of company stock valued at $7,642,379. Insiders own 1.66% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KMX. First Hawaiian Bank purchased a new stake in shares of CarMax during the fourth quarter worth about $273,000. Sequoia Financial Advisors LLC grew its stake in CarMax by 10.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock worth $261,000 after acquiring an additional 307 shares during the period. Jones Financial Companies Lllp raised its holdings in CarMax by 36.6% in the 4th quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company's stock valued at $426,000 after acquiring an additional 1,396 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of CarMax during the 3rd quarter worth $6,942,000. Finally, HF Advisory Group LLC boosted its holdings in shares of CarMax by 12.6% during the fourth quarter. HF Advisory Group LLC now owns 28,793 shares of the company's stock worth $2,354,000 after purchasing an additional 3,222 shares during the last quarter.

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.