JPMorgan Chase & Co. Boosts CarMax (NYSE:KMX) Price Target to $70.00

CarMax (NYSE:KMX) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $65.00 to $70.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 17.11% from the stock’s current price.

KMX has been the subject of a number of other reports. BNP Paribas raised CarMax to a “strong sell” rating in a research note on Friday, September 27th. Wedbush reaffirmed an “outperform” rating and issued a $95.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Evercore ISI lifted their price target on shares of CarMax from $81.00 to $83.00 and gave the company an “in-line” rating in a research note on Tuesday. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Friday, October 4th. Finally, Stephens initiated coverage on shares of CarMax in a research note on Thursday. They issued an “equal weight” rating and a $86.00 price target on the stock. Four analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $81.00.

CarMax Trading Up 1.0 %

Shares of KMX stock traded up $0.82 on Thursday, hitting $84.45. The stock had a trading volume of 726,703 shares, compared to its average volume of 1,895,159. The company has a current ratio of 2.25, a quick ratio of 0.68 and a debt-to-equity ratio of 2.93. CarMax has a twelve month low of $65.38 and a twelve month high of $88.22. The company has a fifty day moving average price of $76.40 and a two-hundred day moving average price of $76.42. The firm has a market cap of $13.08 billion, a P/E ratio of 31.75, a PEG ratio of 1.71 and a beta of 1.71.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, analysts forecast that CarMax will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CarMax

A number of institutional investors have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas bought a new position in CarMax during the third quarter worth about $2,229,000. Franklin Resources Inc. lifted its position in shares of CarMax by 53.3% in the third quarter. Franklin Resources Inc. now owns 27,362 shares of the company’s stock valued at $1,999,000 after buying an additional 9,509 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of CarMax by 141.8% during the 3rd quarter. Tidal Investments LLC now owns 13,019 shares of the company’s stock worth $1,007,000 after acquiring an additional 7,635 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of CarMax during the 3rd quarter worth approximately $351,000. Finally, World Investment Advisors LLC bought a new stake in CarMax in the 3rd quarter valued at $6,942,000.

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.