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

CarMax (NYSE:KMX) had its price target boosted by JPMorgan Chase & Co. from $65.00 to $70.00 in a research report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other brokerages have also recently weighed in on KMX. Wedbush reiterated an “outperform” rating and set a $95.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Evercore ISI lifted their target price on CarMax from $81.00 to $83.00 and gave the company an “in-line” rating in a research report on Tuesday. Stephens assumed coverage on CarMax in a research report on Thursday. They issued an “equal weight” rating and a $86.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of CarMax in a research report on Wednesday, October 16th. Finally, Truist Financial boosted their price objective on CarMax from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $81.00.

CarMax Stock Performance

Shares of CarMax stock opened at $84.58 on Thursday. CarMax has a 1 year low of $65.38 and a 1 year high of $88.22. The firm’s 50-day moving average is $76.40 and its 200 day moving average is $76.42. The stock has a market cap of $13.10 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 1.71 and a beta of 1.71. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.83 billion. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. Sell-side analysts anticipate that CarMax will post 2.99 EPS for the current fiscal year.

Hedge Funds Weigh In On CarMax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in CarMax by 2,883.1% during the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after purchasing an additional 1,713,379 shares during the last quarter. Vulcan Value Partners LLC lifted its holdings in shares of CarMax by 299.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after acquiring an additional 1,369,986 shares during the last quarter. Holocene Advisors LP lifted its holdings in shares of CarMax by 740.2% in the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock valued at $73,274,000 after acquiring an additional 834,232 shares during the last quarter. Marshall Wace LLP grew its position in CarMax by 87.6% in the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock worth $85,118,000 after acquiring an additional 541,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in CarMax by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after acquiring an additional 436,342 shares during the last quarter.

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.