CarMax (NYSE:KMX) Price Target Lowered to $50.00 at JPMorgan Chase & Co.

CarMax (NYSE:KMX) had its price target decreased by JPMorgan Chase & Co. from $65.00 to $50.00 in a report issued on Friday,MarketScreener reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

KMX has been the subject of a number of other reports. Stephens reduced their price target on shares of CarMax from $74.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday. Oppenheimer reiterated a “market perform” rating on shares of CarMax in a research report on Friday. Morgan Stanley began coverage on CarMax in a research report on Tuesday, July 1st. They set an “overweight” rating and a $80.00 price objective for the company. Wedbush downgraded CarMax from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $84.00 to $54.00 in a research report on Thursday. Finally, Truist Financial cut their price objective on CarMax from $74.00 to $47.00 and set a “hold” rating for the company in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.15.

CarMax Stock Down 0.4%

CarMax stock traded down $0.19 during midday trading on Friday, reaching $44.67. The company’s stock had a trading volume of 680,778 shares, compared to its average volume of 3,095,389. CarMax has a fifty-two week low of $42.75 and a fifty-two week high of $91.25. The company has a quick ratio of 1.06, a current ratio of 2.46 and a debt-to-equity ratio of 2.87. The company has a market cap of $6.70 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.76 and a beta of 1.35. The business has a 50-day simple moving average of $58.59 and a 200-day simple moving average of $64.72.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, September 25th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.39). CarMax had a return on equity of 8.51% and a net margin of 1.98%.The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same period in the prior year, the business earned $0.85 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, research analysts expect that CarMax will post 3.23 earnings per share for the current fiscal year.

Insider Activity at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the transaction, the executive vice president directly owned 2,779 shares in the company, valued at $196,308.56. This trade represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Institutional Trading of CarMax

Large investors have recently added to or reduced their stakes in the business. Redmond Asset Management LLC increased its stake in CarMax by 0.3% in the 1st quarter. Redmond Asset Management LLC now owns 50,803 shares of the company’s stock worth $3,959,000 after acquiring an additional 152 shares during the last quarter. Maia Wealth LLC increased its stake in CarMax by 0.6% in the 1st quarter. Maia Wealth LLC now owns 26,099 shares of the company’s stock worth $2,034,000 after acquiring an additional 157 shares during the last quarter. Jones Financial Companies Lllp increased its stake in CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after acquiring an additional 161 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of CarMax by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after purchasing an additional 173 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of CarMax by 5.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company’s stock valued at $262,000 after purchasing an additional 176 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.