America’s Car-Mart (CRMT) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of America’s Car-Mart (NASDAQ:CRMT) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

Other research analysts have also issued research reports about the company. TheStreet raised America’s Car-Mart from a c+ rating to a b rating in a research report on Wednesday, August 15th. Janney Montgomery Scott raised America’s Car-Mart from a neutral rating to a buy rating and upped their price target for the company from $61.00 to $96.00 in a research report on Monday, August 20th. Bank of America upped their price target on America’s Car-Mart from $74.00 to $94.00 and gave the company a buy rating in a research report on Thursday, September 6th. ValuEngine lowered America’s Car-Mart from a buy rating to a hold rating in a research report on Tuesday, October 2nd. Finally, Stephens set a $84.00 price target on America’s Car-Mart and gave the company a hold rating in a research report on Monday, August 20th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $86.20.

NASDAQ CRMT opened at $77.14 on Wednesday. America’s Car-Mart has a 1-year low of $40.15 and a 1-year high of $89.85. The stock has a market capitalization of $530.98 million, a PE ratio of 17.73, a P/E/G ratio of 0.74 and a beta of 1.01.

America’s Car-Mart (NASDAQ:CRMT) last released its earnings results on Thursday, August 16th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.38. America’s Car-Mart had a return on equity of 13.52% and a net margin of 6.41%. The company had revenue of $164.02 million during the quarter, compared to analyst estimates of $161.39 million. On average, analysts expect that America’s Car-Mart will post 5.34 earnings per share for the current year.

In other news, Director Ray C. Dillon bought 750 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was purchased at an average price of $83.41 per share, with a total value of $62,557.50. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $125,115. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ray C. Dillon bought 1,000 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was purchased at an average cost of $80.45 per share, with a total value of $80,450.00. Following the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $201,125. The disclosure for this purchase can be found here. 10.00% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in CRMT. Russell Investments Group Ltd. bought a new position in shares of America’s Car-Mart in the 2nd quarter worth approximately $207,000. Jane Street Group LLC bought a new position in shares of America’s Car-Mart in the 2nd quarter worth approximately $235,000. Tower Research Capital LLC TRC bought a new position in shares of America’s Car-Mart in the 2nd quarter worth approximately $272,000. Spark Investment Management LLC bought a new position in shares of America’s Car-Mart in the 2nd quarter worth approximately $297,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of America’s Car-Mart in the 2nd quarter worth approximately $316,000. 70.45% of the stock is owned by hedge funds and other institutional investors.

America’s Car-Mart Company Profile

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 June 28, 2018, it operated 140 dealerships. America's Car-Mart, Inc was founded in 1981 and is based in Bentonville, Arkansas.

Further Reading: Dividend

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