Zacks Investment Research upgraded shares of America’s Car-Mart (NASDAQ:CRMT) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Zacks.com reports. Zacks Investment Research currently has $97.00 target price 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. “
Other equities analysts have also issued research reports about the stock. Buckingham Research lifted their price target on shares of America’s Car-Mart from $105.00 to $111.00 and gave the company a buy rating in a report on Monday, August 19th. BidaskClub upgraded shares of America’s Car-Mart from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, ValuEngine upgraded shares of America’s Car-Mart from a sell rating to a hold rating in a report on Saturday, August 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $100.80.
Shares of NASDAQ CRMT opened at $85.05 on Tuesday. America’s Car-Mart has a 1 year low of $66.26 and a 1 year high of $104.05. The firm’s 50 day moving average price is $87.82 and its 200 day moving average price is $88.07. The firm has a market cap of $589.44 million, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 0.59 and a beta of 0.92.
America’s Car-Mart (NASDAQ:CRMT) last announced its earnings results on Thursday, August 15th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.54. The firm had revenue of $171.88 million for the quarter, compared to analyst estimates of $175.34 million. America’s Car-Mart had a net margin of 7.72% and a return on equity of 20.72%. America’s Car-Mart’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 earnings per share. Analysts anticipate that America’s Car-Mart will post 7.68 EPS for the current fiscal year.
In related news, Director William H. Henderson sold 1,500 shares of America’s Car-Mart stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $89.78, for a total transaction of $134,670.00. Following the transaction, the director now owns 117,330 shares in the company, valued at approximately $10,533,887.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Henderson sold 4,000 shares of America’s Car-Mart stock in a transaction on Monday, July 8th. The shares were sold at an average price of $85.50, for a total transaction of $342,000.00. Following the transaction, the director now owns 122,830 shares in the company, valued at approximately $10,501,965. The disclosure for this sale can be found here. Insiders have sold a total of 12,500 shares of company stock worth $1,078,285 in the last 90 days. Company insiders own 10.00% of the company’s stock.
Several large investors have recently bought and sold shares of CRMT. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of America’s Car-Mart during the 1st quarter valued at $32,000. PNC Financial Services Group Inc. lifted its holdings in shares of America’s Car-Mart by 1,181.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 423 shares of the company’s stock valued at $39,000 after acquiring an additional 390 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of America’s Car-Mart during the 2nd quarter valued at $43,000. DekaBank Deutsche Girozentrale acquired a new position in shares of America’s Car-Mart during the 2nd quarter valued at $56,000. Finally, Legal & General Group Plc lifted its holdings in shares of America’s Car-Mart by 27.8% during the 4th quarter. Legal & General Group Plc now owns 1,095 shares of the company’s stock valued at $79,000 after acquiring an additional 238 shares in the last quarter. Institutional investors and hedge funds own 73.60% of the company’s stock.
About America’s Car-Mart
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 February 26, 2019, it operated 144 dealerships. America's Car-Mart, Inc was founded in 1981 and is based in Bentonville, Arkansas.
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