America’s Car-Mart, Inc. (CRMT) Expected to Announce Quarterly Sales of $187.85 Million

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Equities research analysts expect America’s Car-Mart, Inc. (NASDAQ:CRMT) to announce sales of $187.85 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for America’s Car-Mart’s earnings. The highest sales estimate is $189.54 million and the lowest is $186.16 million. America’s Car-Mart posted sales of $169.45 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.9%. The business is expected to report its next quarterly earnings report on Monday, May 20th.

On average, analysts expect that America’s Car-Mart will report full-year sales of $680.09 million for the current fiscal year, with estimates ranging from $678.40 million to $681.78 million. For the next fiscal year, analysts anticipate that the company will post sales of $733.24 million, with estimates ranging from $729.10 million to $737.37 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow America’s Car-Mart.

America’s Car-Mart (NASDAQ:CRMT) last released its quarterly earnings results on Tuesday, February 19th. The company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.53. America’s Car-Mart had a net margin of 6.53% and a return on equity of 18.04%. The firm had revenue of $161.05 million for the quarter, compared to analysts’ expectations of $163.97 million.

Several research firms have recently issued reports on CRMT. BidaskClub raised shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. Janney Montgomery Scott reiterated a “buy” rating and set a $99.00 price objective on shares of America’s Car-Mart in a report on Monday. Bank of America reiterated a “buy” rating and set a $110.00 price objective (up from $102.00) on shares of America’s Car-Mart in a report on Tuesday, February 26th. Zacks Investment Research upgraded shares of America’s Car-Mart from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Tuesday, February 5th. Finally, Buckingham Research began coverage on shares of America’s Car-Mart in a report on Thursday, March 28th. They set a “buy” rating and a $103.00 price target on the stock. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. America’s Car-Mart has a consensus rating of “Buy” and an average target price of $96.67.

In related news, Director William H. Henderson sold 10,000 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $82.12, for a total value of $821,200.00. Following the completion of the transaction, the director now directly owns 126,438 shares in the company, valued at approximately $10,383,088.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gremp Jim Von sold 3,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $92.58, for a total transaction of $277,740.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock valued at $1,235,950 over the last quarter. 10.00% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Portolan Capital Management LLC bought a new stake in America’s Car-Mart during the 4th quarter worth approximately $16,290,000. Morgan Stanley increased its stake in shares of America’s Car-Mart by 140.7% in the 3rd quarter. Morgan Stanley now owns 197,013 shares of the company’s stock worth $15,407,000 after acquiring an additional 115,168 shares during the last quarter. SG Capital Management LLC increased its stake in shares of America’s Car-Mart by 129.4% in the 4th quarter. SG Capital Management LLC now owns 198,530 shares of the company’s stock worth $14,383,000 after acquiring an additional 111,977 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of America’s Car-Mart in the 3rd quarter worth $2,157,000. Finally, BlackRock Inc. increased its stake in shares of America’s Car-Mart by 5.5% in the 3rd quarter. BlackRock Inc. now owns 526,838 shares of the company’s stock worth $41,200,000 after acquiring an additional 27,370 shares during the last quarter. 72.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CRMT traded down $0.92 during trading hours on Friday, hitting $95.92. 288 shares of the stock were exchanged, compared to its average volume of 108,203. The firm has a market capitalization of $650.00 million, a price-to-earnings ratio of 26.65, a P/E/G ratio of 0.80 and a beta of 0.90. America’s Car-Mart has a 1-year low of $50.65 and a 1-year high of $97.55.

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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