America's Car-Mart, Inc. (NASDAQ:CRMT) – Stock analysts at Jefferies Group lifted their FY2018 EPS estimates for America's Car-Mart in a report released on Wednesday. Jefferies Group analyst J. Hecht now forecasts that the company will post earnings per share of $3.16 for the year, up from their previous estimate of $3.00. Jefferies Group has a “Hold” rating and a $45.00 price objective on the stock. Jefferies Group also issued estimates for America's Car-Mart’s Q4 2018 earnings at $0.89 EPS, Q2 2019 earnings at $0.91 EPS and FY2019 earnings at $4.27 EPS.
America's Car-Mart (NASDAQ:CRMT) last issued its quarterly earnings results on Thursday, November 16th. The company reported $0.79 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.79. The business had revenue of $149.12 million for the quarter, compared to analysts’ expectations of $149.63 million. America's Car-Mart had a net margin of 3.58% and a return on equity of 9.18%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 earnings per share.
Shares of America's Car-Mart (NASDAQ:CRMT) opened at $47.20 on Friday. The stock has a market cap of $337.48, a PE ratio of 17.10 and a beta of 0.95. America's Car-Mart has a 1 year low of $30.20 and a 1 year high of $49.40.
A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in America's Car-Mart by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 573,608 shares of the company’s stock valued at $23,590,000 after acquiring an additional 3,531 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in America's Car-Mart by 4.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 34,360 shares of the company’s stock valued at $1,414,000 after acquiring an additional 1,411 shares in the last quarter. Wells Fargo & Company MN raised its holdings in America's Car-Mart by 46.9% in the third quarter. Wells Fargo & Company MN now owns 9,725 shares of the company’s stock valued at $400,000 after acquiring an additional 3,105 shares in the last quarter. Citadel Advisors LLC acquired a new stake in America's Car-Mart in the third quarter valued at approximately $287,000. Finally, Trexquant Investment LP acquired a new stake in America's Car-Mart in the third quarter valued at approximately $515,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Robert Cameron Smith sold 1,875 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $48.61, for a total transaction of $91,143.75. Following the sale, the director now owns 3,550 shares of the company’s stock, valued at $172,565.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.70% of the stock is currently owned by corporate insiders.
America's Car-Mart announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 16th that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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America's Car-Mart Company Profile
America’s Car-Mart, Inc is an automotive retailer focused on the integrated auto sales and finance segment of the used car market. The Company conducts its operations through its two operating subsidiaries, America’s Car Mart, Inc (Car-Mart of Arkansas) and Colonial Auto Finance, Inc (Colonial) (Collectively, Car-Mart of Arkansas and Colonial are referred to as Car-Mart).
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