America’s Car-Mart (NASDAQ:CRMT) Shares Up 9.1%

America’s Car-Mart, Inc. (NASDAQ:CRMTGet Rating)’s stock price rose 9.1% on Wednesday . The company traded as high as $109.97 and last traded at $109.11. Approximately 528 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 88,482 shares. The stock had previously closed at $99.98.

Several research firms recently commented on CRMT. Zacks Investment Research raised shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America downgraded shares of America’s Car-Mart from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $191.00 to $123.00 in a report on Wednesday, April 6th. StockNews.com initiated coverage on shares of America’s Car-Mart in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Stephens reduced their price target on shares of America’s Car-Mart from $138.00 to $113.00 and set an “overweight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, America’s Car-Mart currently has a consensus rating of “Hold” and a consensus price target of $133.92.

The stock’s fifty day moving average is $83.95 and its two-hundred day moving average is $95.72. The firm has a market capitalization of $697.07 million, a price-to-earnings ratio of 7.04, a P/E/G ratio of 0.45 and a beta of 1.35.

America’s Car-Mart (NASDAQ:CRMTGet Rating) last posted its quarterly earnings data on Monday, May 23rd. The company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.91. America’s Car-Mart had a net margin of 9.66% and a return on equity of 25.67%. The business had revenue of $351.84 million during the quarter, compared to analysts’ expectations of $309.55 million. During the same quarter in the prior year, the business posted $6.19 earnings per share. As a group, analysts expect that America’s Car-Mart, Inc. will post 12.78 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its holdings in America’s Car-Mart by 52.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 339 shares of the company’s stock valued at $35,000 after acquiring an additional 116 shares during the last quarter. Quantbot Technologies LP purchased a new stake in America’s Car-Mart in the 1st quarter valued at $48,000. Captrust Financial Advisors raised its position in America’s Car-Mart by 31.6% in the 1st quarter. Captrust Financial Advisors now owns 695 shares of the company’s stock valued at $56,000 after buying an additional 167 shares during the last quarter. Point72 Hong Kong Ltd increased its position in shares of America’s Car-Mart by 621.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 757 shares of the company’s stock valued at $61,000 after purchasing an additional 652 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in America’s Car-Mart by 125.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 1,161 shares of the company’s stock worth $135,000 after acquiring an additional 645 shares during the last quarter. Institutional investors and hedge funds own 73.35% of the company’s stock.

About America’s Car-Mart (NASDAQ:CRMT)

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 April 30, 2021, it operated 151 dealerships in the South-Central United States. America's Car-Mart, Inc was founded in 1981 and is headquartered in Rogers, Arkansas.

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