America’s Car-Mart, Inc. (CRMT) Given Hold Rating at Jefferies Group LLC
America’s Car-Mart, Inc. (NASDAQ:CRMT)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research note issued to investors on Friday. They presently have a $41.00 price target on the stock. Jefferies Group LLC’s price objective points to a potential upside of 7.19% from the company’s previous close.
Separately, Zacks Investment Research upgraded shares of America’s Car-Mart from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Thursday, May 25th.
America’s Car-Mart (NASDAQ:CRMT) traded up 3.66% during midday trading on Friday, hitting $38.25. 74,559 shares of the stock traded hands. America’s Car-Mart has a 1-year low of $30.20 and a 1-year high of $47.75. The company has a 50-day moving average of $38.15 and a 200-day moving average of $36.99. The stock has a market cap of $288.44 million, a PE ratio of 15.26 and a beta of 0.94.
America’s Car-Mart (NASDAQ:CRMT) last posted its quarterly earnings data on Thursday, August 17th. The company reported $0.90 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.90. The business had revenue of $146.40 million during the quarter, compared to the consensus estimate of $153.05 million. America’s Car-Mart had a net margin of 3.41% and a return on equity of 8.72%. America’s Car-Mart’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. On average, equities analysts expect that America’s Car-Mart will post $3.06 EPS for the current fiscal year.
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In related news, CEO William H. Henderson sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $38.85, for a total transaction of $242,812.50. Following the completion of the transaction, the chief executive officer now directly owns 93,440 shares in the company, valued at approximately $3,630,144. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Magnolia Capital Fund, Lp bought 24,607 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average price of $35.75 per share, with a total value of $879,700.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 68,700 shares of company stock valued at $2,531,007 and have sold 28,108 shares valued at $1,061,151. 11.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CRMT. Magnolia Group LLC boosted its position in America’s Car-Mart by 84.1% in the second quarter. Magnolia Group LLC now owns 826,885 shares of the company’s stock valued at $32,166,000 after buying an additional 377,841 shares during the last quarter. Bares Capital Management Inc. boosted its position in America’s Car-Mart by 2.1% in the first quarter. Bares Capital Management Inc. now owns 809,578 shares of the company’s stock valued at $29,509,000 after buying an additional 16,745 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in America’s Car-Mart by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 570,077 shares of the company’s stock valued at $22,176,000 after buying an additional 19,794 shares during the last quarter. Vanguard Group Inc. boosted its position in America’s Car-Mart by 6.2% in the second quarter. Vanguard Group Inc. now owns 348,311 shares of the company’s stock valued at $13,549,000 after buying an additional 20,317 shares during the last quarter. Finally, Kennedy Capital Management Inc. boosted its position in America’s Car-Mart by 21.3% in the second quarter. Kennedy Capital Management Inc. now owns 292,843 shares of the company’s stock valued at $11,392,000 after buying an additional 51,481 shares during the last quarter. Hedge funds and other institutional investors own 83.55% of the company’s stock.
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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