America’s Car-Mart (NASDAQ:CRMT) Downgraded by Zacks Investment Research to Hold

America’s Car-Mart (NASDAQ:CRMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” 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 research analysts also recently issued reports on CRMT. ValuEngine downgraded shares of America’s Car-Mart from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Buckingham Research raised their price objective on shares of America’s Car-Mart from $105.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Finally, BidaskClub raised shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $100.80.

America’s Car-Mart stock traded up $0.96 during midday trading on Monday, hitting $90.65. 43,288 shares of the company’s stock were exchanged, compared to its average volume of 106,604. America’s Car-Mart has a 12-month low of $66.26 and a 12-month high of $104.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.85 and a current ratio of 2.03. The stock has a market cap of $596.75 million, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 1.52 and a beta of 0.88. The firm’s 50 day simple moving average is $89.32 and its 200 day simple moving average is $89.94.

America’s Car-Mart (NASDAQ:CRMT) last issued its quarterly earnings data on Thursday, August 15th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.54. America’s Car-Mart had a net margin of 7.72% and a return on equity of 20.25%. The company had revenue of $171.88 million for the quarter, compared to the consensus estimate of $175.34 million. During the same period last year, the firm posted $1.40 EPS. America’s Car-Mart’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts forecast that America’s Car-Mart will post 7.82 EPS for the current fiscal year.

In other news, COO Leonard L. Walthall sold 1,000 shares of America’s Car-Mart stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $90.00, for a total value of $90,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William H. Henderson sold 1,500 shares of America’s Car-Mart stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $89.78, for a total transaction of $134,670.00. Following the completion of the sale, the director now directly owns 117,330 shares in the company, valued at approximately $10,533,887.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,000 shares of company stock worth $351,990. Insiders own 10.00% of the company’s stock.

Several large investors have recently modified their holdings of the company. New York State Teachers Retirement System acquired a new stake in shares of America’s Car-Mart in the second quarter valued at about $43,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of America’s Car-Mart by 47.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 523 shares of the company’s stock valued at $45,000 after purchasing an additional 169 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of America’s Car-Mart in the second quarter valued at about $56,000. Advisor Group Inc. lifted its stake in shares of America’s Car-Mart by 279.2% in the second quarter. Advisor Group Inc. now owns 1,058 shares of the company’s stock valued at $91,000 after purchasing an additional 779 shares during the period. Finally, Aperio Group LLC acquired a new stake in shares of America’s Car-Mart in the second quarter valued at about $148,000. 76.15% of the stock is currently owned by institutional investors and hedge funds.

About America’s Car-Mart

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 February 26, 2019, it operated 144 dealerships. America's Car-Mart, Inc was founded in 1981 and is based in Bentonville, Arkansas.

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