America’s Car-Mart (NASDAQ:CRMT) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of America’s Car-Mart (NASDAQ:CRMTGet Rating) from a sell rating to a hold rating in a research report report published on Monday, Zacks.com reports.

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. “

Several other analysts also recently weighed in on the company. Bank of America downgraded America’s Car-Mart from a buy rating to an underperform rating and lowered their price objective for the company from $191.00 to $123.00 in a research report on Wednesday, April 6th. StockNews.com began coverage on America’s Car-Mart in a research report on Thursday, March 31st. They issued a hold rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $154.92.

NASDAQ:CRMT opened at $83.52 on Monday. The stock has a 50 day moving average price of $86.41. The company has a market cap of $537.87 million, a P/E ratio of 5.27, a price-to-earnings-growth ratio of 0.47 and a beta of 1.35. America’s Car-Mart has a 1-year low of $72.50 and a 1-year high of $177.45.

America’s Car-Mart (NASDAQ:CRMTGet Rating) last released its earnings results on Wednesday, February 16th. The company reported $2.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.97 by ($0.20). The firm had revenue of $291.90 million during the quarter, compared to the consensus estimate of $291.80 million. America’s Car-Mart had a return on equity of 25.67% and a net margin of 9.66%. During the same quarter in the previous year, the firm earned $2.85 EPS. As a group, sell-side analysts forecast that America’s Car-Mart will post 12.78 EPS for the current fiscal year.

In related news, COO Leonard L. Walthall sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was sold at an average price of $89.99, for a total transaction of $143,984.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its holdings in shares of America’s Car-Mart by 52.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 339 shares of the company’s stock valued at $35,000 after acquiring an additional 116 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of America’s Car-Mart by 125.0% during the third quarter. Advisor Group Holdings Inc. now owns 1,161 shares of the company’s stock valued at $135,000 after acquiring an additional 645 shares in the last quarter. Spire Wealth Management bought a new position in shares of America’s Car-Mart during the fourth quarter valued at approximately $174,000. Gyon Technologies Capital Management LP bought a new position in shares of America’s Car-Mart during the third quarter valued at approximately $225,000. Finally, Janus Henderson Group PLC raised its holdings in shares of America’s Car-Mart by 33.4% during the third quarter. Janus Henderson Group PLC now owns 2,441 shares of the company’s stock valued at $285,000 after acquiring an additional 611 shares in the last quarter. Institutional investors own 73.35% of the company’s stock.

About America’s Car-Mart (Get Rating)

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 April 30, 2021, it operated 151 dealerships in the South-Central United States. America's Car-Mart, Inc was founded in 1981 and is headquartered in Rogers, Arkansas.

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