Jefferies Financial Group Cuts America’s Car-Mart (NASDAQ:CRMT) Price Target to $14.00

America’s Car-Mart (NASDAQ:CRMT) had its target price lowered by analysts at Jefferies Financial Group from $29.00 to $14.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 15.33% from the company’s current price.

A number of other equities research analysts have also recently commented on CRMT. Wall Street Zen cut America’s Car-Mart from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Weiss Ratings restated a “sell (e+)” rating on shares of America’s Car-Mart in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.50.

America’s Car-Mart Stock Performance

CRMT traded down $0.58 during trading on Tuesday, hitting $12.14. The stock had a trading volume of 229,420 shares, compared to its average volume of 121,110. The firm has a market capitalization of $100.78 million, a P/E ratio of -1.06 and a beta of 1.16. America’s Car-Mart has a twelve month low of $12.11 and a twelve month high of $62.72. The company’s 50-day moving average price is $23.25 and its 200 day moving average price is $25.62.

America’s Car-Mart (NASDAQ:CRMT) last announced its earnings results on Thursday, March 12th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($1.27). The business had revenue of $222.62 million for the quarter, compared to analyst estimates of $329.26 million. America’s Car-Mart had a negative return on equity of 2.63% and a negative net margin of 6.99%. As a group, equities analysts expect that America’s Car-Mart will post 0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On America’s Car-Mart

A number of institutional investors have recently bought and sold shares of CRMT. Ameriprise Financial Inc. acquired a new position in America’s Car-Mart in the 3rd quarter valued at approximately $5,192,000. Massachusetts Institute of Technology purchased a new position in shares of America’s Car-Mart during the 3rd quarter valued at $4,890,000. JPMorgan Chase & Co. grew its holdings in shares of America’s Car-Mart by 4,998.9% during the 4th quarter. JPMorgan Chase & Co. now owns 166,683 shares of the company’s stock valued at $4,210,000 after acquiring an additional 163,414 shares in the last quarter. Yacktman Asset Management LP increased its stake in shares of America’s Car-Mart by 1,109.1% in the third quarter. Yacktman Asset Management LP now owns 133,000 shares of the company’s stock worth $3,885,000 after acquiring an additional 122,000 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in America’s Car-Mart by 361.7% during the third quarter. BNP Paribas Financial Markets now owns 101,755 shares of the company’s stock valued at $2,972,000 after purchasing an additional 79,715 shares during the last quarter. 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 operates as a retailer and financer of used automobiles, specializing in serving customers with limited credit histories through an in-house “buy-here, pay-here” financing model. The company’s dealerships offer a selection of late-model, pre-owned vehicles across a range of makes and models, supported by on-site service centers and extended warranty products. In addition to vehicle sales, America’s Car-Mart generates revenue from finance charges, insurance products and ancillary services such as GAP coverage and credit life and disability insurance.

Founded in 1981 in Forrest City, Arkansas, America’s Car-Mart has grown from a single dealership into a publicly traded company listed on the Nasdaq under the ticker CRMT.