JPMorgan Chase & Co. Issues Positive Forecast for CarMax (NYSE:KMX) Stock Price

CarMax (NYSE:KMX) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $70.00 to $72.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 14.44% from the company’s current price.

A number of other research analysts also recently commented on KMX. BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a research note on Friday, September 27th. Oppenheimer reissued an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Friday, October 4th. Needham & Company LLC raised their price objective on shares of CarMax from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Friday. Wedbush reiterated an “outperform” rating and issued a $95.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Finally, Evercore ISI boosted their target price on CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a research report on Thursday. Four research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, CarMax has a consensus rating of “Hold” and an average price target of $85.17.

CarMax Price Performance

Shares of NYSE KMX traded down $0.08 during midday trading on Friday, hitting $84.15. The company had a trading volume of 923,412 shares, compared to its average volume of 1,931,808. CarMax has a twelve month low of $65.83 and a twelve month high of $91.25. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. The firm has a market capitalization of $13.04 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 1.76 and a beta of 1.71. The business has a 50-day simple moving average of $78.77 and a two-hundred day simple moving average of $77.55.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.62 by $0.19. The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.05 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. CarMax’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 earnings per share. Equities research analysts anticipate that CarMax will post 3.01 earnings per share for the current year.

Institutional Investors Weigh In On CarMax

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP grew its stake in shares of CarMax by 78.6% during the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after acquiring an additional 184 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in CarMax in the 3rd quarter valued at about $32,000. True Wealth Design LLC boosted its stake in shares of CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after acquiring an additional 436 shares during the period. Blue Trust Inc. boosted its position in CarMax by 134.1% during the second quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after purchasing an additional 287 shares during the period. Finally, Studio Investment Management LLC boosted its holdings in shares of CarMax by 176.7% during the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after buying an additional 334 shares during the period.

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.