JP Morgan Rates CarMax (KMX) sell, $37 Price Target
JP Morgan has reaffirmed its sell rating on CarMax, setting a target price of $37, a 30.10% downside from the current price.
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JP Morgan rated CarMax, Inc. ($KMX) "sell" with a $37 price target on June 11, 2026.
Since the rating, $KMX is up 4.0% after 1 week, up 6.4% after 1 month and up 3.4% to date (from the $51.57 close on Jun 11, 2026).
KMX
CarMax, Inc.
Key Points
- JP Morgan reiterated a sell rating on CarMax, Inc. (KMX) on June 11, 2026, with a target price of $37.
- JP Morgan's $37 price target implies 30.10% downside from CarMax, Inc.'s ($KMX) current $52.93 share price.
- CarMax shares were trading at $52.93, reflecting a significant difference from JP Morgan's target.
- The stock has a P/E ratio of about 24.9 and is considered overvalued based on JP Morgan's analysis.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated CarMax, Inc. alert may contain errors. Disclosures
Rating Reaffirmed
On June 11, 2026, JP Morgan reiterated its sell rating on CarMax, Inc. (KMX), setting a price target of $37. The stock is currently priced at $52.93, indicating a notable gap between the market price and the analyst's target.
Comparing Analyst Opinions
While JP Morgan holds a bearish view on CarMax, several other firms have given the stock a more positive outlook. For instance, B of A Securities upgraded its rating to Buy with a price target of $65.00 on October 15, 2026. Barclays maintains an Equal-Weight rating with a target of $67.00, while UBS also holds a Neutral rating with a $62.00 target. In contrast, BNP Paribas has an Underperform rating, raising its target to $48.00. These varying ratings show a wide range of perspectives on CarMax's future performance.
Stock Overview
CarMax shares currently trade at $52.93, which is notably above its 52-week low of $30.26 and significantly below the 52-week high of $65.28. The stock's current position suggests that it may be viewed as overvalued by some analysts compared to its performance and sector peers.
$KMX price target
CarMax, Inc. daily closes and this analyst's $37 target. Not advice.
Company Insights
CarMax, Inc., based in Richmond, Virginia, sells used vehicles and related products across the United States. It operates in two main segments: its sales operations and its auto finance division. This unique structure positions CarMax in the consumer cyclical sector, where fluctuations in economic conditions can heavily influence sales.
What's Ahead for CarMax, Inc.
CarMax is scheduled to report its next earnings on December 17, 2026. As investors await this report, they will be focused on how the company's performance aligns with current analyst expectations. This 13F filing reflects the position as of the reporting period and may not represent current holdings. Investors should monitor upcoming analyst ratings and earnings reports for further insights.
Related Filing Alerts
Source: JP Morgan's rating change on $KMX (Jun 11, 2026). Written by software, not financial advice. How we make alerts