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

CarMax (NYSE:KMX) had its price objective cut 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.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada increased their target price on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Needham & Company LLC lifted their price objective on CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Mizuho upped their target price on shares of CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Evercore ISI cut their price target on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Finally, StockNews.com raised shares of CarMax from a “sell” rating to a “hold” 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of $90.18.

CarMax Stock Down 1.3 %

KMX opened at $75.92 on Thursday. CarMax has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The company has a market capitalization of $11.68 billion, a P/E ratio of 25.74, a P/E/G ratio of 1.67 and a beta of 1.76. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The firm’s fifty day moving average price is $80.45 and its two-hundred day moving average price is $79.30.

Insider Buying and Selling

In other news, SVP Tyler Tuite sold 4,869 shares of the company’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 completion of the sale, the senior vice president now directly owns 227 shares of the company’s stock, valued at $19,199.66. This represents a 95.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Lyski sold 57,986 shares of CarMax stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $81.35, for a total transaction of $4,717,161.10. Following the transaction, the executive vice president now directly owns 22,803 shares in the company, valued at $1,855,024.05. The trade was a 71.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,709 shares of company stock valued at $7,642,379 over the last ninety days. Insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On CarMax

Large investors have recently modified their holdings of the business. Centaurus Financial Inc. grew its position in shares of CarMax by 32.1% in the 4th quarter. Centaurus Financial Inc. now owns 9,969 shares of the company’s stock valued at $815,000 after purchasing an additional 2,422 shares during the period. Siemens Fonds Invest GmbH acquired a new position in shares of CarMax in the fourth quarter valued at approximately $1,131,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CarMax during the fourth quarter worth $8,848,000. Ameriflex Group Inc. acquired a new stake in shares of CarMax during the fourth quarter worth $53,000. Finally, Ascent Group LLC lifted its position in CarMax by 7.0% in the 4th quarter. Ascent Group LLC now owns 54,315 shares of the company’s stock valued at $4,441,000 after acquiring an additional 3,530 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.