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

CarMax (NYSE:KMX) had its price target dropped by research analysts at JPMorgan Chase & Co. from $72.00 to $65.00 in a report released 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 14.98% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Evercore ISI reduced their price target on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Needham & Company LLC lifted their price target on CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Mizuho upped their price objective on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada increased their price objective on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.18.

CarMax Trading Up 1.8 %

Shares of CarMax stock traded up $1.38 during trading hours 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. CarMax has a 12 month low of $65.83 and a 12 month high of $91.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The company has a market capitalization of $11.76 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The stock has a 50 day moving average of $80.56 and a 200 day moving average of $79.34.

Insider Transactions at CarMax

In related news, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares in the company, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mohammad Shamim sold 12,845 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $81.94, for a total transaction of $1,052,519.30. Following the completion of the sale, the executive vice president now owns 11,738 shares of the company’s stock, valued at approximately $961,811.72. This represents a 52.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,709 shares of company stock worth $7,642,379 in the last 90 days. Corporate insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On CarMax

Institutional investors have recently bought and sold shares of the business. 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. Cromwell Holdings LLC boosted its position in CarMax by 104.8% during the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after purchasing an additional 217 shares during the period. Allworth Financial LP increased its holdings in shares of 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 purchasing an additional 249 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of CarMax in the fourth quarter valued at $53,000. Finally, Larson Financial Group LLC raised its position in shares of CarMax by 91.9% in the third quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock valued at $57,000 after purchasing an additional 353 shares during the period.

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.