America’s Car-Mart (CRMT) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of America’s Car-Mart (NASDAQ:CRMT) from a hold rating to a buy rating in a report released on Saturday morning, BidAskClub reports.

Several other research firms have also recently commented on CRMT. Zacks Investment Research cut shares of America’s Car-Mart from a strong-buy rating to a hold rating in a report on Monday, February 4th. Buckingham Research started coverage on shares of America’s Car-Mart in a report on Thursday, March 28th. They set a buy rating and a $103.00 price target for the company. Bank of America reiterated a buy rating and set a $110.00 price target (up previously from $102.00) on shares of America’s Car-Mart in a report on Tuesday, February 26th. Finally, ValuEngine upgraded shares of America’s Car-Mart from a sell rating to a hold rating in a report on Saturday, December 15th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. America’s Car-Mart presently has a consensus rating of Buy and a consensus price target of $96.67.

Shares of CRMT stock opened at $96.84 on Friday. The company has a market capitalization of $639.40 million, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 0.79 and a beta of 0.89. America’s Car-Mart has a fifty-two week low of $50.65 and a fifty-two week high of $97.55.

America’s Car-Mart (NASDAQ:CRMT) last posted its quarterly earnings results on Tuesday, February 19th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.02 by $0.53. America’s Car-Mart had a net margin of 6.53% and a return on equity of 18.04%. The company had revenue of $161.05 million during the quarter, compared to analysts’ expectations of $163.97 million. Research analysts expect that America’s Car-Mart will post 6.43 EPS for the current fiscal year.

In other news, Director Gremp Jim Von sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $92.58, for a total transaction of $277,740.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Henderson sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $91.34, for a total transaction of $137,010.00. Following the sale, the director now owns 117,015 shares of the company’s stock, valued at approximately $10,688,150.10. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock valued at $1,235,950 in the last 90 days. Insiders own 10.00% of the company’s stock.

Several large investors have recently modified their holdings of CRMT. Russell Investments Group Ltd. lifted its position in shares of America’s Car-Mart by 101.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,687 shares of the company’s stock worth $524,000 after buying an additional 3,370 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of America’s Car-Mart by 37.7% during the 3rd quarter. Wells Fargo & Company MN now owns 14,080 shares of the company’s stock worth $1,101,000 after buying an additional 3,857 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of America’s Car-Mart by 109.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,340 shares of the company’s stock worth $1,746,000 after buying an additional 11,668 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of America’s Car-Mart during the 3rd quarter worth approximately $617,000. Finally, BlackRock Inc. lifted its position in shares of America’s Car-Mart by 5.5% during the 3rd quarter. BlackRock Inc. now owns 526,838 shares of the company’s stock worth $41,200,000 after buying an additional 27,370 shares during the last quarter. Institutional investors and hedge funds own 72.27% of the company’s stock.

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

See Also: Are Wall Street analysts’ stock ratings worth following?

Analyst Recommendations for America`s Car-Mart (NASDAQ:CRMT)

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