CarMax (NYSE:KMX) Given New $70.00 Price Target at JPMorgan Chase & Co.

CarMax (NYSE:KMX) had its price target upped by JPMorgan Chase & Co. from $60.00 to $70.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 19.98% from the company’s current price.

A number of other brokerages have also commented on KMX. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Royal Bank Of Canada raised their price objective on shares of CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, June 18th. Barclays raised CarMax from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $37.00 to $61.00 in a report on Tuesday, July 21st. Weiss Ratings raised shares of CarMax from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Finally, Robert W. Baird lifted their price objective on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $51.67.

CarMax Stock Down 0.1%

Shares of KMX stock traded down $0.04 on Friday, hitting $58.34. The company’s stock had a trading volume of 514,755 shares, compared to its average volume of 3,071,457. The firm’s fifty day moving average price is $59.43 and its 200-day moving average price is $49.34. CarMax has a fifty-two week low of $30.26 and a fifty-two week high of $65.28. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 38.24, a P/E/G ratio of 2.71 and a beta of 1.17.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. The company had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.38 earnings per share. Research analysts anticipate that CarMax will post 2.72 EPS for the current year.

Insider Activity at CarMax

In other news, Director Peter J. Bensen purchased 2,500 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $52.20 per share, for a total transaction of $130,500.00. Following the completion of the acquisition, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sona Chawla acquired 2,000 shares of CarMax stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $53.39 per share, with a total value of $106,780.00. Following the completion of the transaction, the director directly owned 21,702 shares of the company’s stock, valued at $1,158,669.78. This trade represents a 10.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 13,900 shares of company stock valued at $735,574. 1.01% of the stock is owned by corporate insiders.

Institutional Trading of CarMax

Hedge funds and other institutional investors have recently made changes to their positions in the business. Anchor Investment Management LLC acquired a new position in CarMax during the second quarter worth $37,000. The Manufacturers Life Insurance Company grew its position in CarMax by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 2,420,139 shares of the company’s stock valued at $128,001,000 after purchasing an additional 21,882 shares in the last quarter. Capstone Financial Advisors Inc. increased its stake in CarMax by 5.6% in the 2nd quarter. Capstone Financial Advisors Inc. now owns 9,500 shares of the company’s stock valued at $502,000 after buying an additional 500 shares during the last quarter. WINTON GROUP Ltd increased its stake in CarMax by 181.0% in the 2nd quarter. WINTON GROUP Ltd now owns 38,780 shares of the company’s stock valued at $2,051,000 after buying an additional 24,977 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in CarMax during the 2nd quarter worth about $3,531,000.

CarMax Company Profile

CarMax, Inc is a specialty retailer of used vehicles and one of the largest automotive retailers in the United States. The company sells a broad selection of used cars, trucks and sport utility vehicles through its retail locations and online platform. CarMax also purchases vehicles from consumers and other sources, providing customers with a streamlined alternative to traditional private-party sales.

In addition to retail sales, CarMax operates wholesale vehicle auctions for vehicles that do not meet its retail standards or business requirements.