CarMax (NYSE:KMX) PT Raised to $65.00

CarMax (NYSE:KMX) had its target price upped by research analysts at JPMorgan Chase & Co. from $55.00 to $65.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 14.59% from the stock’s previous close.

Several other brokerages have also recently issued reports on KMX. StockNews.com upgraded CarMax to a “sell” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price target on CarMax from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Morgan Stanley reiterated an “overweight” rating and set a $80.00 price target on shares of CarMax in a research report on Friday, June 21st. Argus upgraded CarMax to a “hold” rating in a research report on Tuesday, June 25th. Finally, Needham & Company LLC lowered their price target on CarMax from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, CarMax currently has an average rating of “Hold” and an average target price of $77.08.

CarMax Stock Down 1.7 %

Shares of CarMax stock opened at $76.10 on Thursday. The business’s fifty day moving average price is $80.36 and its two-hundred day moving average price is $76.54. The company has a debt-to-equity ratio of 2.95, a current ratio of 2.50 and a quick ratio of 0.60. The company has a market capitalization of $11.88 billion, a P/E ratio of 29.73, a PEG ratio of 1.53 and a beta of 1.69. CarMax has a 1-year low of $59.66 and a 1-year high of $88.22.

CarMax (NYSE:KMX) last announced its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a return on equity of 6.64% and a net margin of 1.55%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 EPS. As a group, research analysts forecast that CarMax will post 2.99 EPS for the current year.

Insider Buying and Selling

In other news, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total transaction of $89,198.26. Following the transaction, the senior vice president now owns 995 shares in the company, valued at $72,097.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Jon G. Daniels sold 1,231 shares of CarMax stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total transaction of $89,198.26. Following the transaction, the senior vice president now owns 995 shares in the company, valued at $72,097.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $79.62, for a total value of $9,554,400.00. Following the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $14,465,600.46. The disclosure for this sale can be found here. Insiders have sold 185,243 shares of company stock worth $14,893,042 in the last three months. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gilbert & Cook Inc. boosted its position in CarMax by 5.7% during the fourth quarter. Gilbert & Cook Inc. now owns 8,011 shares of the company’s stock valued at $615,000 after purchasing an additional 431 shares during the last quarter. D.A. Davidson & CO. boosted its position in CarMax by 3.5% during the fourth quarter. D.A. Davidson & CO. now owns 11,850 shares of the company’s stock valued at $909,000 after purchasing an additional 400 shares during the last quarter. Franklin Resources Inc. boosted its position in CarMax by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 16,706 shares of the company’s stock valued at $1,282,000 after purchasing an additional 212 shares during the last quarter. King Luther Capital Management Corp boosted its position in CarMax by 2.3% during the fourth quarter. King Luther Capital Management Corp now owns 57,385 shares of the company’s stock valued at $4,404,000 after purchasing an additional 1,311 shares during the last quarter. Finally, ProVise Management Group LLC boosted its position in CarMax by 2.3% during the fourth quarter. ProVise Management Group LLC now owns 60,031 shares of the company’s stock valued at $4,607,000 after purchasing an additional 1,330 shares during the last quarter.

About CarMax

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.