America’s Car-Mart (NASDAQ:CRMT) PT Raised to $45.00

America’s Car-Mart (NASDAQ:CRMT) had its price target boosted by equities researchers at Jefferies Group from $41.00 to $45.00 in a note issued to investors on Monday, November 20th. The brokerage currently has a “hold” rating on the stock. Jefferies Group’s price objective would suggest a potential downside of 1.64% from the company’s previous close. Jefferies Group also issued estimates for America’s Car-Mart’s Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $3.00 EPS, Q2 2019 earnings at $0.76 EPS, Q3 2019 earnings at $0.74 EPS, Q4 2019 earnings at $1.04 EPS and FY2019 earnings at $3.59 EPS.

Several other brokerages have also recently commented on CRMT. ValuEngine cut shares of America’s Car-Mart from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Zacks Investment Research cut shares of America’s Car-Mart from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, Stephens started coverage on America’s Car-Mart in a report on Wednesday, August 23rd. They set an “equal weight” rating and a $42.00 price objective on the stock.

America’s Car-Mart (NASDAQ CRMT) traded down $0.30 during trading on Monday, reaching $45.75. 24,223 shares of the company’s stock were exchanged, compared to its average volume of 63,710. America’s Car-Mart has a 1 year low of $30.20 and a 1 year high of $49.40. The firm has a market capitalization of $330.87, a P/E ratio of 16.70 and a beta of 0.94.

America’s Car-Mart (NASDAQ:CRMT) last issued its quarterly earnings data on Thursday, November 16th. The company reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. America’s Car-Mart had a net margin of 3.58% and a return on equity of 9.09%. The business had revenue of $149.12 million for the quarter, compared to analysts’ expectations of $149.63 million. During the same period in the previous year, the business earned $0.62 earnings per share. The company’s revenue was down .7% on a year-over-year basis. equities analysts forecast that America’s Car-Mart will post 3.04 EPS for the current fiscal year.

America’s Car-Mart declared that its board has authorized a stock buyback plan on Thursday, November 16th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, CEO William H. Henderson sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $40.65, for a total transaction of $254,062.50. Following the completion of the transaction, the chief executive officer now directly owns 93,440 shares in the company, valued at $3,798,336. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Cameron Smith sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $48.44, for a total value of $125,944.00. Following the transaction, the director now owns 3,550 shares of the company’s stock, valued at $171,962. The disclosure for this sale can be found here. In the last three months, insiders sold 10,725 shares of company stock valued at $471,150. 11.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CRMT. American International Group Inc. raised its stake in shares of America’s Car-Mart by 7.2% in the first quarter. American International Group Inc. now owns 4,864 shares of the company’s stock valued at $177,000 after purchasing an additional 326 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of America’s Car-Mart by 5.9% in the first quarter. Vanguard Group Inc. now owns 327,994 shares of the company’s stock valued at $11,956,000 after purchasing an additional 18,331 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of America’s Car-Mart by 5.4% in the first quarter. Geode Capital Management LLC now owns 61,593 shares of the company’s stock valued at $2,245,000 after purchasing an additional 3,130 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of America’s Car-Mart by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 550,283 shares of the company’s stock valued at $20,058,000 after purchasing an additional 35,398 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of America’s Car-Mart by 4.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 32,797 shares of the company’s stock valued at $1,196,000 after purchasing an additional 1,368 shares in the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

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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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