America’s Car-Mart, Inc. (CRMT) Upgraded at Zacks Investment Research
America’s Car-Mart, Inc. (NASDAQ:CRMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Separately, Jefferies Group LLC reaffirmed a “hold” rating and issued a $36.00 price objective on shares of America’s Car-Mart in a report on Friday, May 12th.
Shares of America’s Car-Mart (NASDAQ:CRMT) remained flat at $37.55 during mid-day trading on Wednesday. 23,811 shares of the company’s stock traded hands. America’s Car-Mart has a 12 month low of $30.20 and a 12 month high of $47.75. The company’s 50 day moving average price is $38.29 and its 200 day moving average price is $37.02. The firm has a market capitalization of $283.43 million, a PE ratio of 15.08 and a beta of 0.94.
America’s Car-Mart (NASDAQ:CRMT) last released its quarterly earnings data on Monday, May 22nd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. The business had revenue of $152.90 million for the quarter, compared to the consensus estimate of $158.24 million. America’s Car-Mart had a net margin of 3.43% and a return on equity of 8.82%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Equities research analysts expect that America’s Car-Mart will post $3.06 earnings per share for the current fiscal year.
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In other news, major shareholder Magnolia Capital Fund, Lp purchased 24,607 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were purchased at an average cost of $35.75 per share, with a total value of $879,700.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Henderson sold 6,250 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $38.85, for a total transaction of $242,812.50. Following the sale, the chief executive officer now directly owns 93,440 shares in the company, valued at $3,630,144. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 68,700 shares of company stock worth $2,531,007 and have sold 28,108 shares worth $1,061,151. Corporate insiders own 11.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Magnolia Group LLC purchased a new stake in shares of America’s Car-Mart during the first quarter worth about $16,368,000. Kennedy Capital Management Inc. increased its stake in shares of America’s Car-Mart by 95.7% in the first quarter. Kennedy Capital Management Inc. now owns 241,362 shares of the company’s stock worth $8,798,000 after buying an additional 118,027 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of America’s Car-Mart by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 550,283 shares of the company’s stock worth $20,058,000 after buying an additional 35,398 shares during the period. Vanguard Group Inc. increased its stake in shares of America’s Car-Mart by 6.2% in the second quarter. Vanguard Group Inc. now owns 348,311 shares of the company’s stock worth $13,549,000 after buying an additional 20,317 shares during the period. Finally, TFS Capital LLC purchased a new stake in shares of America’s Car-Mart during the first quarter worth about $635,000. 83.55% of the stock is currently owned by hedge funds and other institutional investors.
About America’s Car-Mart
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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