CarMax (NYSE:KMX) Price Target Increased to $65.00 by Analysts at JPMorgan Chase & Co.

CarMax (NYSE:KMX) had its target price lifted by JPMorgan Chase & Co. from $55.00 to $65.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an underweight rating on the stock.

Several other research analysts also recently commented on the stock. Mizuho reduced their price target on shares of CarMax from $75.00 to $72.00 and set a neutral rating on the stock in a research note on Tuesday, June 18th. Argus raised shares of CarMax to a hold rating in a research report on Tuesday, June 25th. Wedbush reissued an outperform rating and set a $95.00 target price on shares of CarMax in a research report on Tuesday. Needham & Company LLC cut their target price on shares of CarMax from $91.00 to $87.00 and set a buy rating on the stock in a research report on Monday, June 24th. Finally, Royal Bank of Canada raised their target price on shares of CarMax from $73.00 to $75.00 and gave the company an outperform rating in a research report on Monday, June 24th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $77.08.

CarMax Price Performance

KMX stock opened at $77.39 on Thursday. CarMax has a 52 week low of $59.66 and a 52 week high of $88.22. The firm has a market capitalization of $12.08 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 1.53 and a beta of 1.69. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. The company has a fifty day simple moving average of $80.41 and a two-hundred day simple moving average of $76.54.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Friday, June 21st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.16 billion. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm’s revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 EPS. Analysts anticipate that CarMax will post 2.99 earnings per share for the current fiscal year.

Insider Transactions at CarMax

In other news, CEO William D. Nash sold 120,000 shares of CarMax stock in a transaction that occurred 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 of the company’s stock, valued at approximately $14,465,600.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CarMax news, EVP Mohammad Shamim sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $82.26, for a total transaction of $2,056,500.00. Following the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at approximately $965,567.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William D. Nash sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $79.62, for a total transaction of $9,554,400.00. Following the sale, the chief executive officer now directly 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 a total of 185,243 shares of company stock valued at $14,893,042 in the last 90 days. Insiders own 1.66% of the company’s stock.

Institutional Trading of CarMax

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in CarMax by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,076,909 shares of the company’s stock worth $1,387,222,000 after purchasing an additional 222,132 shares during the last quarter. Morningstar Investment Services LLC boosted its holdings in shares of CarMax by 95.4% in the 4th quarter. Morningstar Investment Services LLC now owns 2,717,326 shares of the company’s stock valued at $211,516,000 after acquiring an additional 1,326,840 shares during the last quarter. First Pacific Advisors LP boosted its holdings in shares of CarMax by 2.0% in the 2nd quarter. First Pacific Advisors LP now owns 2,386,210 shares of the company’s stock valued at $175,005,000 after acquiring an additional 47,184 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CarMax by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,007,426 shares of the company’s stock valued at $147,230,000 after acquiring an additional 51,397 shares during the last quarter. Finally, Vulcan Value Partners LLC boosted its holdings in shares of CarMax by 299.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after acquiring an additional 1,369,986 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.