America’s Car-Mart (NASDAQ:CRMT) Stock Rating Upgraded by Zacks Investment Research

America’s Car-Mart (NASDAQ:CRMT – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, 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. “

A number of other equities analysts have also recently commented on the company. StockNews.com started coverage on America’s Car-Mart in a report on Thursday, March 31st. They set a “hold” rating for the company. Bank of America cut America’s Car-Mart from a “buy” rating to an “underperform” rating and reduced their target price for the company from $191.00 to $123.00 in a report on Wednesday, April 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, America’s Car-Mart currently has an average rating of “Hold” and a consensus target price of $154.92.

NASDAQ CRMT traded up $23.52 during trading hours on Tuesday, reaching $99.98. The company’s stock had a trading volume of 759,292 shares, compared to its average volume of 88,469. The firm has a market capitalization of $643.87 million, a price-to-earnings ratio of 6.30, a P/E/G ratio of 0.45 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. The company’s 50-day moving average is $83.82 and its two-hundred day moving average is $95.69.

America’s Car-Mart (NASDAQ:CRMT – Get Rating) last released its quarterly earnings results on Monday, May 23rd. The company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.91. The company had revenue of $351.84 million during the quarter, compared to analysts’ expectations of $309.55 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 prior year, the firm posted $6.19 EPS. As a group, sell-side analysts expect that America’s Car-Mart will post 12.78 earnings per share for the current fiscal year.

In other 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 value of $143,984.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of CRMT. Magnolia Group LLC purchased a new stake in shares of America’s Car-Mart in the first quarter valued at approximately $32,745,000. Marshall Wace LLP grew its position in America’s Car-Mart by 1,259.1% in the fourth quarter. Marshall Wace LLP now owns 93,654 shares of the company’s stock worth $9,591,000 after acquiring an additional 86,763 shares during the period. JPMorgan Chase & Co. grew its position in America’s Car-Mart by 378.4% in the fourth quarter. JPMorgan Chase & Co. now owns 64,971 shares of the company’s stock worth $6,654,000 after acquiring an additional 51,389 shares during the period. WCM Investment Management LLC grew its position in America’s Car-Mart by 19.6% in the first quarter. WCM Investment Management LLC now owns 297,569 shares of the company’s stock worth $23,972,000 after acquiring an additional 48,763 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in America’s Car-Mart by 13.2% in the first quarter. Dimensional Fund Advisors LP now owns 355,188 shares of the company’s stock worth $28,615,000 after acquiring an additional 41,378 shares during the period. Institutional investors and hedge funds 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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