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

CarMax (NYSE:KMX) had its price target dropped by analysts at JPMorgan Chase & Co. from $72.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 14.98% from the company’s current price.

KMX has been the subject of several other research reports. Stephens raised shares of CarMax from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $86.00 to $90.00 in a research report on Wednesday. StockNews.com raised CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Mizuho boosted their price target on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Truist Financial upped their price target on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Finally, Evercore ISI cut their price objective on CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.18.

CarMax Stock Performance

CarMax stock traded up $1.38 on Thursday, hitting $76.45. The company’s stock had a trading volume of 1,574,100 shares, compared to its average volume of 1,817,397. The company has a fifty day moving average price of $80.56 and a 200-day moving average price of $79.34. The firm has a market cap of $11.76 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. CarMax has a one year low of $65.83 and a one year high of $91.25. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92.

Insider Buying and Selling at CarMax

In other CarMax news, EVP James Lyski sold 57,986 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 directly owns 22,803 shares in the company, valued at approximately $1,855,024.05. This trade represents a 71.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total value of $407,150.00. Following the sale, the chief financial officer now owns 20,260 shares of the company’s stock, valued at approximately $1,649,771.80. The trade was a 19.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,709 shares of company stock worth $7,642,379. 1.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CarMax

A number of institutional investors and hedge funds have recently modified their holdings of KMX. True Wealth Design LLC raised its position 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 valued at $34,000 after acquiring an additional 436 shares during the last quarter. Cromwell Holdings LLC increased its holdings in CarMax by 104.8% in the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after purchasing an additional 217 shares during the last quarter. Allworth Financial LP lifted its stake in CarMax by 62.7% in the fourth quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after buying an additional 249 shares during the period. Ameriflex Group Inc. acquired a new position in CarMax in the fourth quarter valued at about $53,000. Finally, Larson Financial Group LLC boosted its holdings in CarMax by 91.9% during the third quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock worth $57,000 after buying an additional 353 shares during 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.