CarMax (NYSE:KMX) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of CarMax (NYSE:KMX – Get Rating) from a neutral rating to an underweight rating in a research report report published on Wednesday morning, MarketBeat reports. They currently have $60.00 target price on the stock.

KMX has been the topic of several other research reports. StockNews.com raised shares of CarMax to a sell rating in a research report on Friday, December 9th. Robert W. Baird lowered their price target on shares of CarMax from $82.00 to $65.00 in a research report on Friday, December 23rd. Argus lowered shares of CarMax from a buy rating to a hold rating in a report on Thursday, January 5th. Oppenheimer decreased their target price on shares of CarMax from $100.00 to $75.00 and set an outperform rating on the stock in a report on Friday, December 23rd. Finally, Morgan Stanley decreased their target price on shares of CarMax from $90.00 to $75.00 and set an overweight rating on the stock in a report on Wednesday, December 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $69.40.

CarMax Stock Performance

NYSE KMX opened at $67.43 on Wednesday. The company’s 50 day moving average is $65.15 and its 200-day moving average is $77.58. CarMax has a 12-month low of $52.10 and a 12-month high of $120.58. The company has a quick ratio of 0.81, a current ratio of 2.57 and a debt-to-equity ratio of 3.21. The firm has a market cap of $10.66 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 3.57 and a beta of 1.44.

CarMax (NYSE:KMX – Get Rating) last posted its quarterly earnings results on Thursday, December 22nd. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.50). CarMax had a net margin of 1.82% and a return on equity of 10.69%. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $7.18 billion. During the same period last year, the firm earned $1.63 EPS. The business’s revenue for the quarter was down 23.7% on a year-over-year basis. Sell-side analysts predict that CarMax will post 2.92 earnings per share for the current year.

Hedge Funds Weigh In On CarMax

Institutional investors have recently made changes to their positions in the stock. Curi Wealth Management LLC increased its holdings in shares of CarMax by 595.2% in the 2nd quarter. Curi Wealth Management LLC now owns 292 shares of the company’s stock worth $26,000 after buying an additional 250 shares during the last quarter. MV Capital Management Inc. increased its holdings in shares of CarMax by 233.7% in the 2nd quarter. MV Capital Management Inc. now owns 297 shares of the company’s stock worth $27,000 after buying an additional 208 shares during the last quarter. Ronald Blue Trust Inc. purchased a new stake in shares of CarMax in the 2nd quarter valued at $30,000. Clear Street Markets LLC boosted its stake in shares of CarMax by 410.6% in the 2nd quarter. Clear Street Markets LLC now owns 337 shares of the company’s stock valued at $30,000 after purchasing an additional 271 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of CarMax by 100.0% in the 3rd quarter. CENTRAL TRUST Co now owns 400 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter.

CarMax Company Profile

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CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates through two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.