America's Car Mart (CRMT)
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Jefferies analyst, John Hecht, reiterated his Hold rating on shares of America's Car-Mart (NASDAQ: CRMT) but raised his price target to $37.00 (from $22.00) after CRMT reported F1Q17 EPS of $0.87, beating the Street's $0.46 estimates.
Gross margin improved to 41.8% beating the analyst's forecast and expanding by more than 300bps sequentially while redit metrics also showed improvement as NCOs of 6.2% declined 160 bps YoY. The analyst is encouraged by this quarter but his rating remains Hold as he looks for additional signs of margin stabilization and continued success in credit management.
Shares of America's Car-Mart closed at $36.68 yesterday.
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