America’s Car-Mart (NASDAQ:CRMT) Upgraded at Stephens

Stephens upgraded shares of America’s Car-Mart (NASDAQ:CRMT) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Separately, StockNews.com raised shares of America’s Car-Mart from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.00.

America’s Car-Mart Trading Down 0.3 %

NASDAQ:CRMT opened at $45.70 on Monday. The company has a market cap of $292.48 million, a PE ratio of -7.98, a P/E/G ratio of 1.92 and a beta of 1.68. America’s Car-Mart has a twelve month low of $37.98 and a twelve month high of $83.07. The company’s 50 day moving average is $42.41 and its two-hundred day moving average is $53.54.

America’s Car-Mart (NASDAQ:CRMT) last released its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.81). The company had revenue of $347.76 million for the quarter, compared to analysts’ expectations of $338.78 million. America’s Car-Mart had a negative return on equity of 7.75% and a negative net margin of 2.66%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. As a group, analysts expect that America’s Car-Mart will post 0.65 EPS for the current fiscal year.

Insider Activity

In other news, Director Joshua G. Welch purchased 23,255 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average cost of $43.00 per share, with a total value of $999,965.00. Following the completion of the acquisition, the director now owns 148,955 shares of the company’s stock, valued at approximately $6,405,065. This represents a 18.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Adam K. Peterson purchased 813,953 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average cost of $43.00 per share, for a total transaction of $34,999,979.00. Following the completion of the acquisition, the insider now directly owns 1,582,363 shares of the company’s stock, valued at $68,041,609. This represents a 105.93 % increase in their position. The disclosure for this purchase can be found here. Insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On America’s Car-Mart

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in America’s Car-Mart by 2.0% during the third quarter. Geode Capital Management LLC now owns 140,625 shares of the company’s stock worth $5,896,000 after acquiring an additional 2,807 shares during the period. State Street Corp raised its position in America’s Car-Mart by 1.0% during the third quarter. State Street Corp now owns 180,055 shares of the company’s stock worth $7,548,000 after acquiring an additional 1,810 shares during the period. Point72 DIFC Ltd acquired a new position in America’s Car-Mart during the third quarter worth $40,000. Point72 Asset Management L.P. raised its position in America’s Car-Mart by 290.9% during the third quarter. Point72 Asset Management L.P. now owns 1,900 shares of the company’s stock worth $80,000 after acquiring an additional 1,414 shares during the period. Finally, Portolan Capital Management LLC acquired a new position in America’s Car-Mart during the third quarter worth $3,197,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

America’s Car-Mart Company Profile

America’s Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer for the used car market in the United States. It primarily sells older model used vehicles and provides financing for its customers. The company was founded in 1981 and is headquartered in Rogers, Arkansas.