CarMax (NYSE:KMX) Given New $72.00 Price Target at JPMorgan Chase & Co.

CarMax (NYSE:KMX) had its price objective increased by JPMorgan Chase & Co. from $70.00 to $72.00 in a research report sent to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other brokerages have also weighed in on KMX. Mizuho raised their price objective on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday. Stephens started coverage on CarMax in a report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 target price for the company. Evercore ISI lifted their price target on shares of CarMax from $83.00 to $85.00 and gave the company a “market perform” rating in a research report on Thursday. Needham & Company LLC upped their price objective on shares of CarMax from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Friday. Finally, BNP Paribas upgraded shares of CarMax to a “strong sell” rating in a report on Friday, September 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.17.

CarMax Stock Performance

KMX opened at $84.27 on Friday. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. CarMax has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The firm has a market cap of $13.06 billion, a PE ratio of 31.68, a P/E/G ratio of 1.76 and a beta of 1.71. The business has a fifty day simple moving average of $78.77 and a 200-day simple moving average of $77.55.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The business had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same period in the prior year, the business posted $0.52 earnings per share. CarMax’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that CarMax will post 3.01 EPS for the current fiscal year.

Hedge Funds Weigh In On CarMax

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. World Investment Advisors LLC acquired a new stake in shares of CarMax in the third quarter valued at $6,942,000. Sumitomo Mitsui Trust Group Inc. increased its position in CarMax by 3.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock valued at $27,188,000 after acquiring an additional 10,898 shares in the last quarter. Eagle Rock Investment Company LLC bought a new stake in shares of CarMax during the third quarter worth $747,000. Neo Ivy Capital Management bought a new position in CarMax in the third quarter valued at about $3,934,000. Finally, iSAM Funds UK Ltd bought a new stake in CarMax during the 3rd quarter worth about $537,000.

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.