America’s Car-Mart (NASDAQ:CRMT) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of America’s Car-Mart (NASDAQ:CRMTGet Rating) from a hold rating to a sell rating in a report released 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 equities research analysts also recently issued reports on the stock. StockNews.com began coverage on shares of America’s Car-Mart in a research note on Thursday, March 31st. They set a hold rating on the stock. Bank of America lowered America’s Car-Mart from a buy rating to an underperform rating and dropped their target price for the stock from $191.00 to $123.00 in a research report on Wednesday, April 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $154.92.

CRMT stock opened at $81.79 on Monday. The firm has a market cap of $526.73 million, a P/E ratio of 5.16, a price-to-earnings-growth ratio of 0.46 and a beta of 1.34. America’s Car-Mart has a 1 year low of $72.50 and a 1 year high of $177.45. The stock has a 50-day simple moving average of $84.79 and a 200-day simple moving average of $97.15.

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

In other America’s Car-Mart news, COO Leonard L. Walthall sold 1,600 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $89.99, for a total transaction of $143,984.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in shares of America’s Car-Mart by 44.8% in the 2nd quarter. Morgan Stanley now owns 60,287 shares of the company’s stock valued at $8,545,000 after acquiring an additional 18,642 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in 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 purchasing an additional 645 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of America’s Car-Mart by 0.8% during the third quarter. Principal Financial Group Inc. now owns 43,073 shares of the company’s stock worth $5,030,000 after purchasing an additional 353 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of America’s Car-Mart in the 3rd quarter worth about $2,032,000. Finally, Rafferty Asset Management LLC boosted its holdings in shares of America’s Car-Mart by 36.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 5,003 shares of the company’s stock valued at $584,000 after buying an additional 1,346 shares during the period. 73.35% of the stock is currently owned by institutional investors.

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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