Jefferies Maintains a 'Hold' on America's Car-Mart (CRMT); Strong Sales Drive Earnings Beat

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CRMT Hot Sheet

Rating Summary:
2 Buy, 0 Hold, 0 Sell

Rating Trend:

Up

Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38

Jefferies maintains a 'Hold' on America's Car-Mart (NASDAQ: CRMT) price target raised from $30 to $35.

Jefferies analyst says, "CRMT announced 2Q'12 EPS of $0.77 per share, beating JEF and Street estimates by $0.07 and $0.08, respectively...CRMT posted y/y revenue growth of 20.7% to $110.8m for the October quarter, which was ahead of our estimate of $110.2M. Net income of $7.8M was above our $7.4M estimate and was up 26% over the year ago period. Strong buyback activity accounted for roughly $0.03 of the beat versus our $0.70 EPS estimate, as CRMT repurchased some 5.1% (2.2M) of outstanding shares during the quarter, with the board re-authorizing another 1 million."

Jefferies raises FY12 EPS estimate from $2.93 to $3.10 and FY13 from $3.19 to $3.45.

For an analyst ratings summary and ratings history on America's Car-Mart click here. For more ratings news on America's Car-Mart click here.

Shares of America's Car-Mart closed at $35.90 yesterday, with a 52 week range of $22.77-$37.50.

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