America’s Car-Mart Inc. (CRMT) Raised to Buy at Bank of America Corp.
America’s Car-Mart Inc. (NASDAQ:CRMT) was upgraded by stock analysts at Bank of America Corp. from an “underperform” rating to a “buy” rating in a report released on Wednesday, The Fly reports.
CRMT has been the topic of a number of other reports. Janney Montgomery Scott reaffirmed a “hold” rating on shares of America’s Car-Mart in a research report on Thursday, September 22nd. Zacks Investment Research raised shares of America’s Car-Mart from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Jefferies Group raised their price target on shares of America’s Car-Mart from $22.00 to $37.00 and gave the stock a “hold” rating in a research report on Monday, August 22nd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $29.00.
America’s Car-Mart (NASDAQ:CRMT) opened at 37.30 on Wednesday. The stock’s 50 day moving average is $37.73 and its 200 day moving average is $30.68. America’s Car-Mart has a 12 month low of $19.49 and a 12 month high of $43.07. The company has a market cap of $292.28 million, a PE ratio of 22.58 and a beta of 1.16.
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America’s Car-Mart (NASDAQ:CRMT) last issued its quarterly earnings data on Thursday, August 18th. The company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.41. The company had revenue of $145.80 million for the quarter, compared to analyst estimates of $154.36 million. America’s Car-Mart had a net margin of 2.47% and a return on equity of 7.45%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. Equities analysts predict that America’s Car-Mart will post $2.70 earnings per share for the current year.
In other America’s Car-Mart news, Director John David Simmons sold 3,750 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $36.80, for a total value of $138,000.00. Following the transaction, the director now directly owns 17,129 shares of the company’s stock, valued at approximately $630,347.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eddie L. Hight sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $40.23, for a total transaction of $201,150.00. Following the completion of the transaction, the director now directly owns 45,970 shares in the company, valued at $1,849,373.10. The disclosure for this sale can be found here. 14.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CRMT. Dynamic Technology Lab Private Ltd purchased a new position in America’s Car-Mart during the second quarter valued at approximately $235,000. Royal Bank of Canada raised its position in America’s Car-Mart by 2.3% in the first quarter. Royal Bank of Canada now owns 12,183 shares of the company’s stock valued at $305,000 after buying an additional 271 shares in the last quarter. Harber Asset Management LLC purchased a new position in America’s Car-Mart during the second quarter valued at approximately $633,000. Jacobs Levy Equity Management Inc. purchased a new position in America’s Car-Mart during the first quarter valued at approximately $708,000. Finally, Schwab Charles Investment Management Inc. raised its position in America’s Car-Mart by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 29,109 shares of the company’s stock valued at $823,000 after buying an additional 336 shares in the last quarter. 91.65% of the stock is currently owned by hedge funds and other institutional investors.
America’s Car-Mart Company Profile
America’s Car-Mart, Inc is an automotive retailer in the United States 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, an Arkansas corporation (Car-Mart of Arkansas), and Colonial Auto Finance, Inc, an Arkansas corporation (Colonial) (Collectively, Car-Mart of Arkansas and Colonial are referred to as Car-Mart).
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