America’s Car-Mart Inc. (CRMT) Sees Unusually-High Trading Volume
Shares of America’s Car-Mart Inc. (NASDAQ:CRMT) saw strong trading volume on Friday . 85,855 shares changed hands during 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 research analysts have recently issued reports on the company. Citigroup Inc. lowered their price target on America’s Car-Mart from $29.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, April 7th. Jefferies Group reaffirmed a “hold” rating on shares of America’s Car-Mart in a report on Tuesday, May 24th. Zacks Investment Research downgraded America’s Car-Mart from a “hold” rating to a “sell” rating in a report on Wednesday, May 25th. Finally, Sidoti downgraded America’s Car-Mart from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $24.00 in a report on Tuesday, May 24th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $29.00.
The firm’s 50-day moving average price is $27.68 and its 200-day moving average price is $25.32. The stock has a market cap of $257.79 million and a P/E 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 for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.18. During the same period in the previous year, the business posted $0.81 earnings per share. The business earned $155 million during the quarter, compared to analyst estimates of $149.13 million. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, analysts forecast that America’s Car-Mart Inc. will post $2.02 EPS for the current year.
In other news, Director John David Simmons sold 3,750 shares of America’s Car-Mart stock in a transaction on 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 directly owns 19,979 shares in the company, valued at approximately $483,491.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gremp Jim Von purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, May 24th. The stock was bought at an average price of $21.33 per share, for a total transaction of $42,660.00. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in America’s Car-Mart stock. Bank of Montreal Can increased its position in shares of America’s Car-Mart Inc. (NASDAQ:CRMT) by 55.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 filing with the SEC.
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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