JPMorgan Chase & Co. Has Lowered Expectations for CarMax (NYSE:KMX) Stock Price

CarMax (NYSE:KMX) had its price objective reduced by JPMorgan Chase & Co. from $72.00 to $65.00 in a research note published on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other analysts also recently weighed in on the stock. Truist Financial boosted their target price on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $86.00 to $90.00 in a research report on Wednesday. StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Royal Bank of Canada increased their price target on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Finally, Evercore ISI dropped their price objective on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.18.

CarMax Trading Up 2.7 %

KMX stock opened at $77.12 on Thursday. The firm has a market cap of $11.86 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The firm has a fifty day moving average price of $80.51 and a 200 day moving average price of $79.32. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax has a fifty-two week low of $65.83 and a fifty-two week high of $91.25.

Insiders Place Their Bets

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $19,199.66. This represents a 95.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jill A. Livesay sold 13,009 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total value of $1,053,729.00. Following the transaction, the vice president now owns 9,448 shares in the company, valued at approximately $765,288. This represents a 57.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,709 shares of company stock worth $7,642,379 in the last three months. Corporate insiders own 1.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KMX. Centaurus Financial Inc. raised 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 worth $815,000 after acquiring an additional 2,422 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of CarMax during the fourth quarter valued at about $1,131,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CarMax in the 4th quarter valued at about $8,848,000. Ameriflex Group Inc. purchased a new position in shares of CarMax in the 4th quarter worth approximately $53,000. Finally, Ascent Group LLC lifted its position in CarMax by 7.0% during the fourth 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 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.