CarMax (NYSE:KMX) PT Lowered to $55.00 at JPMorgan Chase & Co.

CarMax (NYSE:KMX – Get Rating) had its price objective cut by JPMorgan Chase & Co. from $60.00 to $55.00 in a research note published on Friday, The Fly reports.

A number of other brokerages have also recently weighed in on KMX. Morgan Stanley lowered their price target on CarMax from $90.00 to $75.00 and set an overweight rating on the stock in a research report on Wednesday, December 28th. StockNews.com upgraded CarMax to a sell rating in a report on Friday, December 9th. Bank of America decreased their target price on CarMax from $100.00 to $49.00 and set an underperform rating on the stock in a report on Friday, December 23rd. Robert W. Baird decreased their target price on CarMax from $82.00 to $65.00 in a report on Friday, December 23rd. Finally, Stephens decreased their target price on CarMax from $64.00 to $53.00 in a report on Friday, December 23rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, CarMax currently has a consensus rating of Hold and a consensus target price of $62.50.

CarMax Stock Performance

Shares of NYSE:KMX opened at $63.73 on Friday. The business’s fifty day moving average price is $69.27 and its two-hundred day moving average price is $69.89. CarMax has a fifty-two week low of $52.10 and a fifty-two week high of $106.24. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 8.35 and a beta of 1.43. The company has a debt-to-equity ratio of 3.21, a current ratio of 2.57 and a quick ratio of 0.81.

CarMax (NYSE:KMX – Get Rating) last announced its quarterly earnings results on Thursday, December 22nd. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.34). CarMax had a net margin of 1.82% and a return on equity of 10.69%. The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $7.18 billion. During the same quarter last year, the company earned $1.63 earnings per share. The business’s revenue was down 23.7% on a year-over-year basis. As a group, analysts predict that CarMax will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, President & CEO William D. Nash bought 8,220 shares of the business’s stock in a transaction on Friday, December 30th. The shares were purchased at an average price of $60.98 per share, with a total value of $501,255.60. Following the completion of the purchase, the insider now owns 165,128 shares of the company’s stock, valued at approximately $10,069,505.44. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On CarMax

A number of hedge funds have recently modified their holdings of KMX. Diamond Hill Capital Management Inc. acquired a new stake in shares of CarMax during the fourth quarter worth about $327,964,000. Norges Bank acquired a new stake in shares of CarMax during the fourth quarter worth about $99,730,000. Fiduciary Management Inc. WI raised its position in shares of CarMax by 46.1% during the third quarter. Fiduciary Management Inc. WI now owns 2,588,830 shares of the company’s stock worth $170,915,000 after purchasing an additional 817,285 shares during the period. Wellington Management Group LLP raised its position in shares of CarMax by 29.4% during the first quarter. Wellington Management Group LLP now owns 3,548,930 shares of the company’s stock worth $342,400,000 after purchasing an additional 805,438 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of CarMax by 562.7% during the fourth quarter. Renaissance Technologies LLC now owns 887,400 shares of the company’s stock worth $54,034,000 after purchasing an additional 753,500 shares during the period.

CarMax Company Profile

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CarMax, Inc is a holding company, which engages in the retail of used vehicles and wholesale of vehicle auction operators. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations.