CarMax (NYSE:KMX) Stock Gets Price Target Trim from JPMorgan Chase & Co.

CarMax (NYSE:KMX) had its price target trimmed by JPMorgan Chase & Co. from $70.00 to $65.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also weighed in on the company. Weiss Ratings upgraded CarMax from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 30th. BNP Paribas Exane restated a “strong sell” rating and set a $48.00 price objective (up from $33.00) on shares of CarMax in a research note on Wednesday, September 30th. Mizuho set a $50.00 price objective on CarMax in a research note on Wednesday. UBS Group set a $65.00 price objective on CarMax in a research report on Thursday, October 15th. Finally, Wall Street Zen lowered CarMax from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, CarMax presently has a consensus rating of “Hold” and a consensus price target of $58.00.

CarMax Stock Down 2.2%

Shares of NYSE:KMX traded down $1.14 during trading hours on Wednesday, hitting $51.46. The company’s stock had a trading volume of 1,963,281 shares, compared to its average volume of 2,717,906. CarMax has a 52 week low of $30.68 and a 52 week high of $65.28. The company has a debt-to-equity ratio of 2.66, a current ratio of 2.33 and a quick ratio of 0.57. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 1.56 and a beta of 1.22. The firm’s fifty day moving average price is $56.15 and its 200 day moving average price is $49.62.

CarMax (NYSE:KMX) last released its quarterly earnings data on Tuesday, September 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.43. The firm had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.09 billion. CarMax had a net margin of 1.06% and a return on equity of 7.76%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. As a group, research analysts expect that CarMax will post 3.23 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KMX. Bessemer Group Inc. boosted its stake in CarMax by 28.1% in the 1st quarter. Bessemer Group Inc. now owns 156,121 shares of the company’s stock worth $6,491,000 after purchasing an additional 34,211 shares in the last quarter. State Street Corp grew its position in CarMax by 5.6% during the 2nd quarter. State Street Corp now owns 5,156,276 shares of the company’s stock worth $272,715,000 after purchasing an additional 271,216 shares during the last quarter. Bank of America Corp DE increased its stake in CarMax by 61.7% during the 1st quarter. Bank of America Corp DE now owns 1,687,359 shares of the company’s stock valued at $70,160,000 after purchasing an additional 643,834 shares in the last quarter. WINTON GROUP Ltd increased its stake in CarMax by 181.0% during the 2nd quarter. WINTON GROUP Ltd now owns 38,780 shares of the company’s stock valued at $2,051,000 after purchasing an additional 24,977 shares in the last quarter. Finally, Convergence Investment Partners LLC acquired a new position in CarMax during the 1st quarter valued at approximately $1,688,000.

About CarMax

CarMax, Inc is a specialty retailer of used vehicles and operates one of the largest used-car sales networks in the United States. The company sells a broad selection of pre-owned cars, trucks and SUVs through its retail stores and online platform, offering customers tools for vehicle search, appraisal, financing and purchase.

CarMax also operates a vehicle appraisal and acquisition business, buying vehicles from consumers and other sources for resale through its retail or wholesale channels.