ValuEngine upgraded shares of America's Car-Mart (NASDAQ:CRMT) from a hold rating to a buy rating in a research note released on Saturday.
Several other analysts have also commented on CRMT. Zacks Investment Research lowered shares of America's Car-Mart from a hold rating to a strong sell rating in a research report on Monday, October 23rd. Jefferies Group raised their price target on shares of America's Car-Mart from $41.00 to $45.00 and gave the company a hold rating in a research report on Monday, November 20th. BidaskClub lowered shares of America's Car-Mart from a strong-buy rating to a buy rating in a research report on Friday, December 15th. Finally, Stephens set a $50.00 price target on shares of America's Car-Mart and gave the company a hold rating in a research report on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $49.00.
Shares of America's Car-Mart (NASDAQ CRMT) opened at $46.25 on Friday. The company has a market cap of $330.69, a price-to-earnings ratio of 16.76 and a beta of 0.99. America's Car-Mart has a 52-week low of $30.20 and a 52-week high of $49.40.
America's Car-Mart announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 16th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Robert Cameron Smith sold 2,600 shares of America's Car-Mart stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $48.44, for a total value of $125,944.00. Following the sale, the director now owns 3,550 shares in the company, valued at $171,962. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of America's Car-Mart in the fourth quarter valued at about $156,000. MetLife Investment Advisors LLC acquired a new stake in shares of America's Car-Mart in the fourth quarter valued at about $160,000. Smith Moore & CO. acquired a new stake in shares of America's Car-Mart in the third quarter valued at about $206,000. Brandywine Global Investment Management LLC grew its position in shares of America's Car-Mart by 27.0% in the fourth quarter. Brandywine Global Investment Management LLC now owns 5,262 shares of the company’s stock valued at $235,000 after purchasing an additional 1,119 shares during the period. Finally, Voya Investment Management LLC acquired a new stake in shares of America's Car-Mart in the second quarter valued at about $206,000. Institutional investors and hedge funds own 87.48% of the company’s stock.
About America's Car-Mart
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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