America’s Car-Mart (CRMT) Upgraded to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of America’s Car-Mart (NASDAQ:CRMT) from a hold rating to a strong-buy rating in a research report sent to investors on Friday. They currently have $75.00 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. “

A number of other analysts have also recently commented on the company. ValuEngine raised America’s Car-Mart from a hold rating to a buy rating in a research report on Saturday, February 17th. BidaskClub raised America’s Car-Mart from a hold rating to a buy rating in a research report on Friday, February 23rd. Finally, Janney Montgomery Scott lifted their price target on America’s Car-Mart from $53.00 to $61.00 and gave the stock a hold rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. America’s Car-Mart has a consensus rating of Buy and an average target price of $57.75.

Shares of America’s Car-Mart opened at $64.65 on Friday, MarketBeat.com reports. America’s Car-Mart has a 1-year low of $33.05 and a 1-year high of $66.20. The firm has a market cap of $448.67 million, a P/E ratio of 21.55 and a beta of 0.86.

America’s Car-Mart (NASDAQ:CRMT) last issued its quarterly earnings results on Monday, May 21st. The company reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.45. America’s Car-Mart had a return on equity of 9.91% and a net margin of 5.30%. The company had revenue of $169.45 million during the quarter, compared to analysts’ expectations of $158.22 million. analysts predict that America’s Car-Mart will post 4.54 earnings per share for the current year.

In other news, Director Robert Cameron Smith sold 22,500 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $62.26, for a total value of $1,400,850.00. Following the completion of the transaction, the director now owns 7,300 shares of the company’s stock, valued at approximately $454,498. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William H. Henderson sold 3,454 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $50.00, for a total value of $172,700.00. Following the completion of the transaction, the director now directly owns 137,190 shares of the company’s stock, valued at approximately $6,859,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,500 shares of company stock valued at $2,885,177. 11.70% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of America’s Car-Mart by 2.1% in the 4th quarter. BlackRock Inc. now owns 512,864 shares of the company’s stock valued at $22,900,000 after buying an additional 10,680 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of America’s Car-Mart in the 4th quarter valued at about $691,000. Goldman Sachs Group Inc. lifted its holdings in shares of America’s Car-Mart by 54.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 72,628 shares of the company’s stock valued at $3,242,000 after buying an additional 25,656 shares during the period. Deutsche Bank AG lifted its holdings in shares of America’s Car-Mart by 14.9% in the 4th quarter. Deutsche Bank AG now owns 45,608 shares of the company’s stock valued at $2,034,000 after buying an additional 5,918 shares during the period. Finally, Brandywine Global Investment Management LLC lifted its holdings in shares of America’s Car-Mart by 27.0% in the 4th quarter. Brandywine Global Investment Management LLC now owns 5,262 shares of the company’s stock valued at $235,000 after buying an additional 1,119 shares during the period. 74.85% of the stock is owned by institutional investors and hedge funds.

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 April 30, 2017, it operated 140 dealerships in 11 states in the South-Central United States.

Get a free copy of the Zacks research report on America’s Car-Mart (CRMT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for America's Car-Mart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for America's Car-Mart and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply