Americas Car Mart (CRMT - Snapshot Report) just surged into a new all-time high after reporting another strong quarter that included a 12% earnings surprise. With estimates on the rise and a bullish growth projection, this Zacks #1 Rank stock has plenty of momentum.
Americas Car Mart, Inc., through its subsidiaries, operates as an automotive retailer in the United States. The company specializes in used cars and is a small cap valued at $324 million.
CRMT posted big gains in October with the market. But shares got an extra boost on November 17 after the company reported strong Q2 results that included a 12% earnings surprise.
Revenue for the period was up 21% from last year to $111 million. Earnings also came in strong at 77 cents, 12% ahead of the Zacks Consensus Estimate, where the company has an average earnings surprise of 10% over the last three quarters.
High volume drove the good quarter, with units sold up 18% from last year to 9,919.
We saw some pretty solid movement in estimates off the good quarter, with the current year adding 6% to $3.16. The next-year estimate is pegged at $3.61, a 14% growth projection.
CRMT's PEG ratio of .86 is below the benchmark of 1 for value.
On the chart, shares began rallying in October with the market before recently surging into a new all-time high. Look for support from the trend line on any weakness. Take a look below.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Whisper Trader Service.