Jefferies Raises Price Target on America's Car Mart (CRMT) Following 2Q Beat
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Jefferies reiterated a Hold rating on America's Car-Mart (NASDAQ: CRMT), and raised the price target to $40.00 (from $37.00), following the company's 2Q earnings report. CRMT reported EPS of $0.62, ahead of the consensus estimate of $0.55. Total revenues of $133M exceeded $124M estimates.
Analyst John Hecht commented, "CRMT reported F2Q17 EPS of $0.62, beating both our $0.54 and the Street's $0.55 estimates. Revenues of $133M beat our $124M forecast while gross margin improved to 41.4% - a 220+bps improvement YoY. Credit metrics also showed continued stabilization as NCOs of 7.7% declined 10 bps YoY. We are modestly increasing our PT as a result of strong top-line trends. Reiterate Hold."
Shares of America's Car-Mart closed at $42.45 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
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