CarMax (NYSE:KMX) Stock Rating Upgraded by JPMorgan Chase & Co.

CarMax (NYSE:KMX) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Wednesday,Benzinga reports. The brokerage presently has a $60.00 price target on the stock, up from their previous price target of $38.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 1.99% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Truist Financial lifted their price objective on CarMax from $47.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, June 18th. Mizuho lifted their price target on CarMax from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 price target for the company in a research note on Thursday, June 18th. Benchmark reaffirmed a “hold” rating on shares of CarMax in a research report on Thursday, June 18th. Finally, Evercore set a $45.00 target price on shares of CarMax in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $51.00.

CarMax Stock Up 0.7%

KMX stock opened at $58.83 on Wednesday. CarMax has a 12-month low of $30.26 and a 12-month high of $62.56. The company has a quick ratio of 0.82, a current ratio of 2.70 and a debt-to-equity ratio of 2.87. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.71 and a beta of 1.17. The company has a 50 day moving average of $50.57 and a two-hundred day moving average of $45.45.

CarMax (NYSE:KMX) last posted its quarterly 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 net margin of 0.84% and a return on equity of 6.64%. The business had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the previous year, the company posted $1.38 EPS. CarMax’s revenue was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that CarMax will post 2.7 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Peter J. Bensen acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average cost of $52.20 per share, with a total value of $130,500.00. Following the acquisition, the director owned 24,796 shares in the company, valued at approximately $1,294,351.20. This represents a 11.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keith Barr bought 9,400 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $53.01 per share, for a total transaction of $498,294.00. Following the completion of the purchase, the chief executive officer directly owned 33,375 shares in the company, valued at $1,769,208.75. The trade was a 39.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 13,900 shares of company stock valued at $735,574 over the last 90 days. 1.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Shrier Wealth Management LLC bought a new stake in CarMax during the second quarter valued at about $217,000. Basecamp Wealth Advisors LLC increased its stake in shares of CarMax by 105.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 327 shares during the period. Pacer Advisors Inc. acquired a new position in shares of CarMax during the 1st quarter worth about $48,634,000. NewEdge Advisors LLC boosted its stake in CarMax by 63.0% during the 1st quarter. NewEdge Advisors LLC now owns 69,568 shares of the company’s stock valued at $2,893,000 after purchasing an additional 26,888 shares during the period. Finally, Blue Edge Capital LLC bought a new stake in CarMax during the 1st quarter valued at approximately $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.