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

CarMax (NYSE:KMX) had its target price dropped by JPMorgan Chase & Co. from $72.00 to $65.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 14.38% from the company’s previous close.

A number of other research analysts have also commented on the company. Evercore ISI decreased their price objective on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Stephens raised CarMax from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $86.00 to $90.00 in a report on Wednesday. Truist Financial raised their price objective on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Needham & Company LLC lifted their target price on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Mizuho raised their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, CarMax currently has a consensus rating of “Hold” and an average price target of $90.18.

CarMax Stock Down 1.3 %

Shares of KMX stock opened at $75.92 on Thursday. CarMax has a 52-week low of $65.83 and a 52-week high of $91.25. The firm’s 50-day moving average is $80.45 and its 200-day moving average is $79.29. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The stock has a market cap of $11.68 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 1.67 and a beta of 1.76.

Insider Activity

In other news, EVP James Lyski sold 57,986 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $81.35, for a total value of $4,717,161.10. Following the transaction, the executive vice president now owns 22,803 shares of the company’s stock, valued at approximately $1,855,024.05. This represents a 71.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares of the company’s stock, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,709 shares of company stock valued at $7,642,379 in the last three months. Company insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its position in CarMax by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after purchasing an additional 282,519 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of CarMax by 348.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock valued at $539,213,000 after purchasing an additional 5,122,850 shares during the period. State Street Corp boosted its stake in CarMax by 0.6% during the third quarter. State Street Corp now owns 6,193,174 shares of the company’s stock worth $479,228,000 after acquiring an additional 36,959 shares in the last quarter. Norges Bank bought a new position in CarMax during the 4th quarter valued at approximately $423,187,000. Finally, Janus Henderson Group PLC boosted its stake in CarMax by 0.6% in the 4th quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company’s stock worth $381,978,000 after purchasing an additional 29,715 shares in the last quarter.

CarMax Company Profile

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.