America’s Car-Mart (NASDAQ:CRMT) Announces Quarterly Earnings Results

America’s Car-Mart (NASDAQ:CRMT – Get Rating) released its quarterly earnings data on Monday. The company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.91, MarketWatch Earnings reports. America’s Car-Mart had a net margin of 9.66% and a return on equity of 25.67%. The company had revenue of $351.84 million during the quarter, compared to the consensus estimate of $309.55 million. During the same period in the previous year, the firm earned $6.19 earnings per share.

Shares of America’s Car-Mart stock traded up $18.55 during trading hours on Tuesday, reaching $95.01. 3,136 shares of the company’s stock were exchanged, compared to its average volume of 81,633. The stock has a market cap of $611.86 million, a P/E ratio of 5.99, a P/E/G ratio of 0.45 and a beta of 1.35. America’s Car-Mart has a fifty-two week low of $72.50 and a fifty-two week high of $177.45. The company has a 50 day moving average of $83.82 and a two-hundred day moving average of $95.69.

In other America’s Car-Mart news, COO Leonard L. Walthall sold 1,600 shares of the stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $89.99, for a total transaction of $143,984.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley raised its holdings in shares of America’s Car-Mart by 44.8% in the 2nd quarter. Morgan Stanley now owns 60,287 shares of the company’s stock worth $8,545,000 after acquiring an additional 18,642 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in America’s Car-Mart by 125.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 1,161 shares of the company’s stock worth $135,000 after purchasing an additional 645 shares in the last quarter. Principal Financial Group Inc. grew its stake in America’s Car-Mart by 0.8% during the third quarter. Principal Financial Group Inc. now owns 43,073 shares of the company’s stock valued at $5,030,000 after acquiring an additional 353 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of America’s Car-Mart by 36.8% in the third quarter. Rafferty Asset Management LLC now owns 5,003 shares of the company’s stock worth $584,000 after purchasing an additional 1,346 shares during the period. Finally, IndexIQ Advisors LLC boosted its position in shares of America’s Car-Mart by 11.1% during the 3rd quarter. IndexIQ Advisors LLC now owns 2,951 shares of the company’s stock valued at $345,000 after acquiring an additional 296 shares during the last quarter. 73.35% of the stock is currently owned by hedge funds and other institutional investors.

CRMT has been the subject of several recent research reports. Bank of America lowered shares of America’s Car-Mart from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $191.00 to $123.00 in a research report on Wednesday, April 6th. Zacks Investment Research downgraded shares of America’s Car-Mart from a “hold” rating to a “sell” rating in a report on Monday, May 16th. Finally, StockNews.com started coverage on shares of America’s Car-Mart in a research note on Thursday, March 31st. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $154.92.

America’s Car-Mart Company Profile (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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