America's Car-Mart (NASDAQ:CRMT) Price Target Cut to $50.00 by Analysts at Bank of America

America's Car-Mart (NASDAQ:CRMT - Get Free Report) had its price objective dropped by equities researchers at Bank of America from $55.00 to $50.00 in a report released on Wednesday, Benzinga reports. The firm presently has an "underperform" rating on the stock. Bank of America's price target indicates a potential downside of 15.80% from the stock's current price.

CRMT has been the subject of several other research reports. StockNews.com lowered shares of America's Car-Mart from a "hold" rating to a "sell" rating in a research report on Tuesday, December 12th. Stephens restated an "equal weight" rating and issued a $82.00 price target on shares of America's Car-Mart in a research report on Tuesday, February 6th.

America's Car-Mart Price Performance

Shares of NASDAQ CRMT traded down $4.14 during mid-day trading on Wednesday, reaching $59.38. 263,650 shares of the company traded hands, compared to its average volume of 124,003. America's Car-Mart has a fifty-two week low of $57.61 and a fifty-two week high of $127.96. The firm has a market cap of $379.44 million, a PE ratio of -12.58 and a beta of 1.67. The stock has a fifty day simple moving average of $63.26 and a 200-day simple moving average of $69.94.

America's Car-Mart (NASDAQ:CRMT - Get Free Report) last issued its quarterly earnings results on Friday, March 8th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.24). The firm had revenue of $299.60 million for the quarter, compared to analyst estimates of $350.95 million. America's Car-Mart had a negative net margin of 2.10% and a negative return on equity of 6.10%. The firm's revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. As a group, analysts predict that America's Car-Mart will post -4.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Adam K. Peterson acquired 18,148 shares of America's Car-Mart stock in a transaction on Monday, February 5th. The stock was bought at an average cost of $59.71 per share, with a total value of $1,083,617.08. Following the completion of the purchase, the insider now owns 649,199 shares of the company's stock, valued at $38,763,672.29. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Adam K. Peterson acquired 4,145 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average price of $63.13 per share, with a total value of $261,673.85. Following the purchase, the insider now owns 700,450 shares of the company's stock, valued at approximately $44,219,408.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Adam K. Peterson bought 18,148 shares of the business's stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of $59.71 per share, for a total transaction of $1,083,617.08. Following the completion of the purchase, the insider now owns 649,199 shares in the company, valued at $38,763,672.29. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 69,523 shares of company stock valued at $4,181,922. 14.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CRMT. Anchor Investment Management LLC acquired a new stake in America's Car-Mart during the 4th quarter worth about $25,000. Quantbot Technologies LP acquired a new stake in shares of America's Car-Mart during the first quarter worth approximately $48,000. Quest Partners LLC purchased a new position in America's Car-Mart during the fourth quarter valued at approximately $48,000. Captrust Financial Advisors grew its position in America's Car-Mart by 31.6% during the first quarter. Captrust Financial Advisors now owns 695 shares of the company's stock valued at $56,000 after purchasing an additional 167 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its stake in America's Car-Mart by 621.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 757 shares of the company's stock valued at $61,000 after buying an additional 652 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

America's Car-Mart Company Profile

America's Car-Mart, Inc, through its subsidiaries, operates as an automotive retailer 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.