America’s Car-Mart (NASDAQ:CRMT) Lowered to Hold at Zacks Investment Research

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Zacks Investment Research lowered shares of America’s Car-Mart (NASDAQ:CRMTGet Rating) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “America’s Car-Mart operates automotive dealerships and is one of the largest automotive retailers in the United States focused exclusively on the Buy Here/Pay Here segment of the used car market. The Company operates its dealerships primarily in small cities and rural locations throughout the South-Central United States, selling quality used vehicles and providing financing for substantially all of its customers. “

Other analysts also recently issued reports about the company. Stephens decreased their price objective on America’s Car-Mart from $138.00 to $113.00 and set an overweight rating for the company in a report on Wednesday, May 25th. StockNews.com started coverage on America’s Car-Mart in a research note on Thursday, March 31st. They set a hold rating for the company. Finally, Bank of America downgraded America’s Car-Mart from a buy rating to an underperform rating and reduced their price objective for the company from $191.00 to $123.00 in a research note on Wednesday, April 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $120.00.

Shares of CRMT stock traded down $0.77 during mid-day trading on Thursday, reaching $102.72. 66,951 shares of the company’s stock traded hands, compared to its average volume of 93,363. The company has a market cap of $661.52 million, a P/E ratio of 7.51, a P/E/G ratio of 0.55 and a beta of 1.32. The company’s 50-day moving average price is $88.51 and its 200-day moving average price is $94.75. America’s Car-Mart has a 12 month low of $72.50 and a 12 month high of $165.50.

America’s Car-Mart (NASDAQ:CRMTGet Rating) last released its earnings results on Monday, May 23rd. The company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.91. America’s Car-Mart had a net margin of 7.70% and a return on equity of 20.98%. The company had revenue of $351.84 million for the quarter, compared to analysts’ expectations of $309.55 million. During the same quarter last year, the business earned $6.19 EPS. On average, sell-side analysts expect that America’s Car-Mart will post 12.03 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its stake 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 purchasing an additional 116 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of America’s Car-Mart in the first quarter worth about $48,000. Captrust Financial Advisors boosted its holdings in America’s Car-Mart by 31.6% in the first quarter. Captrust Financial Advisors now owns 695 shares of the company’s stock valued at $56,000 after purchasing an additional 167 shares during the last quarter. Point72 Hong Kong Ltd raised its stake in America’s Car-Mart by 621.0% during the first quarter. Point72 Hong Kong Ltd now owns 757 shares of the company’s stock valued at $61,000 after buying an additional 652 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in America’s Car-Mart by 125.0% during the third quarter. Advisor Group Holdings Inc. now owns 1,161 shares of the company’s stock valued at $135,000 after buying an additional 645 shares in the last quarter. 73.35% of the stock is owned by hedge funds and other institutional investors.

About America’s Car-Mart (Get Rating)

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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