America’s Car-Mart (CRMT) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of America’s Car-Mart (NASDAQ:CRMT) from a strong-buy rating to a hold rating in a research note released on Tuesday.

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 equities analysts have also weighed in on the company. BidaskClub upgraded America’s Car-Mart from a hold rating to a buy rating in a research report on Wednesday, October 31st. ValuEngine lowered America’s Car-Mart from a buy rating to a hold rating in a research report on Tuesday, October 2nd. Bank of America increased their price target on America’s Car-Mart from $74.00 to $94.00 and gave the company a buy rating in a research report on Thursday, September 6th. Stephens set a $84.00 price target on America’s Car-Mart and gave the company a hold rating in a research report on Monday, August 20th. Finally, Janney Montgomery Scott upgraded America’s Car-Mart from a neutral rating to a buy rating and increased their price target for the company from $61.00 to $96.00 in a research report on Monday, August 20th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $86.20.

NASDAQ:CRMT opened at $77.37 on Tuesday. America’s Car-Mart has a 1-year low of $40.15 and a 1-year high of $89.85. The firm has a market capitalization of $530.98 million, a P/E ratio of 17.73, a P/E/G ratio of 0.74 and a beta of 1.01.

America’s Car-Mart (NASDAQ:CRMT) last released its quarterly earnings results on Thursday, August 16th. The company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.38. America’s Car-Mart had a return on equity of 13.52% and a net margin of 6.41%. The business had revenue of $164.02 million during the quarter, compared to analyst estimates of $161.39 million. Research analysts expect that America’s Car-Mart will post 5.34 earnings per share for the current fiscal year.

In other America’s Car-Mart news, Director Robert Cameron Smith sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $85.15, for a total transaction of $302,282.50. Following the completion of the sale, the director now directly owns 133,779 shares in the company, valued at approximately $11,391,281.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ray C. Dillon acquired 750 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were acquired at an average price of $83.41 per share, with a total value of $62,557.50. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $125,115. The disclosure for this purchase can be found here. Company insiders own 10.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new stake in shares of America’s Car-Mart during the 2nd quarter worth about $272,000. Citadel Advisors LLC purchased a new stake in shares of America’s Car-Mart during the 2nd quarter worth about $990,000. Schwab Charles Investment Management Inc. raised its stake 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. Summit Global Investments purchased a new stake in shares of America’s Car-Mart during the 2nd quarter worth about $631,000. Finally, Paloma Partners Management Co purchased a new stake in shares of America’s Car-Mart during the 2nd quarter worth about $340,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.

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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