America's Car-Mart (NASDAQ:CRMT) has been upgraded from Underperform to Buy in a report by BofA Merrill today.
- Updated: October 19, 2016
Yesterday America's Car-Mart (NASDAQ:CRMT) traded 11.33% higher at $37.30. The company’s 50-day moving average is $37.73 and its 200-day moving average is $30.68. The last stock close price is up 35.37% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 140,287 shares of the stock were exchanged, up from an average trading volume of 60,964
BofA Merrill has upgraded America's Car-Mart (NASDAQ:CRMT) from Underperform to Buy in a report released on 10/19/2016.
Previously on Monday August 22, 2016, Jefferies & Co reported about America's Car-Mart (NASDAQ:CRMT) raised the target price from $22.00 to $37.00. At the time, this indicated a possible downside of -0.01%.
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America's Car-Mart has a 52 week low of $19.49 and a 52 week high of $43.07 with a P/E ratio of 25.14 The company’s market cap is currently $0.
In addition to BofA Merrill reporting its target price, a total of 5 firms have reported on the stock. The consensus target price is $25.20 with 1 firm rating the stock a strong buy, 0 firms rating the stock a buy, 4 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.
About America's Car-Mart (NASDAQ:CRMT)
America's Car-Mart, Inc. is an automotive retailer 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. (Car-Mart of Arkansas) and Colonial Auto Finance, Inc. (Colonial) (Collectively, Car-Mart of Arkansas and Colonial are referred to as Car-Mart). It primarily sells older model used vehicles and provides financing for all of its customers. As of April 30, 2016, the Company operated 143 dealerships located primarily in small cities throughout the South-Central United States. Dealerships are operated on a decentralized basis. Each dealership is responsible for buying (with the assistance of a corporate office buyer) and selling vehicles, making credit decisions, and servicing and collecting the installment contracts it originates. Dealerships also maintain their own records and make daily deposits. The Company has both regular and satellite dealerships.
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