NEW YORK - The Markets Are Open has increased their target price and rating on CRMT following its record Q4 results. The Company also repurchased 157,100 shares of its common stock during the quarter, representing approximately 1.5% of the outstanding shares and announced the opening of its 107th dealership. The company said it made 78 cents a share in the quarter or $8.363 million. Revenue increased 16.4% to $103.4 million. The company also saw same store sales growth of 10%.
Allan Edwards the CEO of The Markets Are Open said "America's Car-Mart went KOBATA today." KOBATA is a seldom used word on Wall Street shrouded in mystery, covered in intrigue. Only a handful of companies have ever hit for the KOBATA. KOBATA is actually an acronym not an actual word. It has been confused before for a Japanese word Kokutai which means a strong sense of national pride. KOBATA though stands for "knocked it out of the ball-park above top anticipations." It is seldom done since a company has to report earnings above all analyst estimates. With the wide range of analysts covering stocks it is nearly impossible. Apple has hit for the KOBATA 3 straight quarters and Las Vegas SandsCorp has done it once but missed heavily in their last two quarters. This makes CRMT the 5th company since the recession to hit for the KOBATA.
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