America's Car-Mart (NASDAQ:CRMT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $52.00 target price on the stock. Zacks Investment Research‘s target price suggests a potential upside of 11.59% from the stock’s current price.
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 recently issued research reports about the stock. BidaskClub cut shares of America's Car-Mart from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. ValuEngine raised shares of America's Car-Mart from a “hold” rating to a “buy” rating in a research note on Friday, November 17th. Stephens set a $50.00 price objective on shares of America's Car-Mart and gave the company a “hold” rating in a research note on Wednesday, January 3rd. Finally, Jefferies Group upped their price objective on shares of America's Car-Mart from $41.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, November 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $49.00.
America's Car-Mart (NASDAQ:CRMT) last released its quarterly earnings results on Thursday, November 16th. The company reported $0.79 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.79. America's Car-Mart had a net margin of 3.58% and a return on equity of 9.18%. The business had revenue of $149.12 million during the quarter, compared to analysts’ expectations of $149.63 million. During the same quarter in the previous year, the company earned $0.62 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. analysts anticipate that America's Car-Mart will post 3.07 earnings per share for the current year.
America's Car-Mart announced that its Board of Directors has initiated a share buyback plan on Thursday, November 16th that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, Director Robert Cameron Smith sold 1,875 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $48.61, for a total value of $91,143.75. Following the completion of the sale, the director now owns 3,550 shares of the company’s stock, valued at approximately $172,565.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of America's Car-Mart in the 4th quarter valued at $156,000. Tower Research Capital LLC TRC lifted its stake in shares of America's Car-Mart by 3,157.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,518 shares of the company’s stock worth $137,000 after purchasing an additional 3,410 shares during the period. Smith Moore & CO. bought a new position in shares of America's Car-Mart in the 3rd quarter worth approximately $206,000. Voya Investment Management LLC bought a new position in shares of America's Car-Mart in the 2nd quarter worth approximately $206,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of America's Car-Mart by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,155 shares of the company’s stock worth $240,000 after purchasing an additional 112 shares during the period. 84.08% of the stock is owned by institutional investors.
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America's Car-Mart Company Profile
America’s Car-Mart, Inc is an automotive retailer focused on the integrated auto sales and finance segment of the used car market. The Company conducts its operations through its two operating subsidiaries, America’s Car Mart, Inc (Car-Mart of Arkansas) and Colonial Auto Finance, Inc (Colonial) (Collectively, Car-Mart of Arkansas and Colonial are referred to as Car-Mart).
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