KAR Auction Services EVP Warren Byrd Sells 1,750 Shares (KAR)
KAR Auction Services (NYSE:KAR) EVP Warren Byrd sold 1,750 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $28.58, for a total value of $50,015.00. The sale was disclosed in a filing with the SEC, which is available at this link.
KAR has been the subject of a number of recent research reports. Analysts at BB&T Corp. raised their price target on shares of KAR Auction Services (NYSE:KAR) from $26.00 to $30.00 in a research note to investors on Thursday, August 29th. They now have a “buy” rating on the stock. Separately, analysts at Barrington Research raised their price target on shares of KAR Auction Services (NYSE:KAR) from $26.00 to $30.00 in a research note to investors on Friday, August 16th. They now have an “outperform” rating on the stock. Finally, analysts at Merrill Lynch upgraded shares of KAR Auction Services (NYSE:KAR) from an “underperform” rating to a “buy” rating in a research note to investors on Monday, August 12th.
Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $27.33.
KAR Auction Services (NYSE:KAR) traded down 1.05% during mid-day trading on Thursday, hitting $28.16. 1,006,462 shares of the company’s stock traded hands. KAR Auction Services has a 1-year low of $17.00 and a 1-year high of $28.67. The stock has a 50-day moving average of $26.56 and a 200-day moving average of $23.29. The company has a market cap of $3.887 billion and a P/E ratio of 37.90.
KAR Auction Services (NYSE:KAR) last released its earnings data on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.31 by $0.03. The company had revenue of $541.40 million for the quarter, compared to the consensus estimate of $518.72 million. During the same quarter last year, the company posted $0.26 earnings per share. KAR Auction Services’s revenue was up 10.9% compared to the same quarter last year. Analysts expect that KAR Auction Services will post $1.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 3rd. Investors of record on Tuesday, September 24th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, September 20th.
KAR Auction Services, Inc, is a provider of vehicle auction services in North America. The Company operates in three business segments: ADESA, Inc (NYSE:KAR), Insurance Auto Auctions, Inc (IAAI) and Automotive Finance Corporation (AFC).
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