America’s Car-Mart Inc. (CRMT) Sees Unusually-High Trading Volume
America’s Car-Mart Inc. (NASDAQ:CRMT) shares saw an uptick in trading volume on Friday . 85,855 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 87,831 shares.The stock last traded at $32.07 and had previously closed at $32.27.
A number of brokerages have recently weighed in on CRMT. Jefferies Group dropped their target price on America’s Car-Mart to $26.00 and set a “hold” rating on the stock in a report on Thursday, April 7th. Citigroup Inc. lowered their price target on America’s Car-Mart from $29.00 to $26.00 and set a “hold” rating for the company in a research note on Thursday, April 7th. Sidoti cut America’s Car-Mart from a “buy” rating to a “neutral” rating and lowered their price target for the company from $33.00 to $24.00 in a research note on Tuesday, May 24th. Finally, Zacks Investment Research cut America’s Car-Mart from a “hold” rating to a “sell” rating in a research note on Wednesday, May 25th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $29.00.
The company’s 50 day moving average is $27.68 and its 200 day moving average is $25.32. The stock has a market capitalization of $257.79 million and a price-to-earnings ratio of 24.18.
America’s Car-Mart (NASDAQ:CRMT) last issued its earnings results on Monday, May 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.18. During the same quarter in the prior year, the business posted $0.81 EPS. The business earned $155 million during the quarter, compared to analysts’ expectations of $149.13 million. The company’s revenue was up 12.5% on a year-over-year basis. Equities analysts expect that America’s Car-Mart Inc. will post $2.02 earnings per share for the current year.
In related news, Director Gremp Jim Von bought 2,000 shares of America’s Car-Mart stock in a transaction on Tuesday, May 24th. The shares were purchased at an average price of $21.33 per share, for a total transaction of $42,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John David Simmons sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $24.20, for a total value of $90,750.00. Following the transaction, the director now owns 19,979 shares in the company, valued at approximately $483,491.80. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in America’s Car-Mart stock. Bank of Montreal Can increased its position in America’s Car-Mart Inc. (NASDAQ:CRMT) by 55.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 233,462 shares of the company’s stock after buying an additional 83,036 shares during the period. Bank of Montreal Can owned 2.76% of America’s Car-Mart worth $6,232,000 as of its most recent SEC filing.
America’s Car-Mart, Inc is an automotive retailer in the United States 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, an Arkansas corporation (Car-Mart of Arkansas), and Colonial Auto Finance, Inc, an Arkansas corporation (Colonial) (Collectively, Car-Mart of Arkansas and Colonial are referred to as Car-Mart).
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