Zacks Investment Research upgraded shares of America’s Car-Mart (NASDAQ:CRMT) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. They currently have $78.00 price objective on the stock.
According to Zacks, “America’s Car-Mart operates automotive dealerships and is one of the largest automotive retailers in the United States focused exclusively on the Buy Here/Pay Here segment of the used car market. The Company operates its dealerships primarily in small cities and rural locations throughout the South-Central United States, selling quality used vehicles and providing financing for substantially all of its customers. “
A number of other brokerages have also recently commented on CRMT. ValuEngine raised shares of America’s Car-Mart from a hold rating to a buy rating in a report on Friday, November 16th. BidaskClub cut shares of America’s Car-Mart from a buy rating to a hold rating in a report on Tuesday, October 9th. Finally, Jefferies Financial Group reaffirmed a hold rating and issued a $87.00 target price on shares of America’s Car-Mart in a report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $87.80.
Shares of America’s Car-Mart stock traded up $1.22 during trading on Tuesday, reaching $71.99. The company’s stock had a trading volume of 19,107 shares, compared to its average volume of 66,321. The stock has a market capitalization of $473.77 million, a price-to-earnings ratio of 20.00, a PEG ratio of 0.65 and a beta of 0.77. America’s Car-Mart has a fifty-two week low of $42.20 and a fifty-two week high of $89.85.
America’s Car-Mart (NASDAQ:CRMT) last announced its earnings results on Thursday, November 15th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.48. The business had revenue of $167.17 million for the quarter, compared to analysts’ expectations of $166.46 million. America’s Car-Mart had a net margin of 7.06% and a return on equity of 15.52%. On average, equities analysts expect that America’s Car-Mart will post 5.78 EPS for the current year.
In other news, Director Daniel J. Englander acquired 10,000 shares of the company’s stock in a transaction on Friday, December 7th. The shares were bought at an average cost of $67.95 per share, with a total value of $679,500.00. Following the purchase, the director now owns 15,263 shares of the company’s stock, valued at approximately $1,037,120.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CRMT. Russell Investments Group Ltd. acquired a new position in America’s Car-Mart in the 2nd quarter valued at $207,000. Schwab Charles Investment Management Inc. boosted its position in shares of America’s Car-Mart by 12.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 40,003 shares of the company’s stock worth $2,477,000 after purchasing an additional 4,466 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of America’s Car-Mart by 128.8% during the 2nd quarter. Renaissance Technologies LLC now owns 69,272 shares of the company’s stock worth $4,288,000 after purchasing an additional 39,000 shares in the last quarter. Bank of America Corp DE boosted its position in shares of America’s Car-Mart by 42.1% during the 2nd quarter. Bank of America Corp DE now owns 35,391 shares of the company’s stock worth $2,190,000 after purchasing an additional 10,481 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of America’s Car-Mart during the 2nd quarter worth $1,373,000. 69.53% of the stock is currently owned by institutional investors.
America’s Car-Mart Company Profile
America's Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company primarily sells older model used vehicles and provides financing for its customers. As of June 28, 2018, it operated 140 dealerships. America's Car-Mart, Inc was founded in 1981 and is based in Bentonville, Arkansas.
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