KAR Auction Services Upgraded to Buy by Goldman Sachs Group Inc. (KAR)
KAR Auction Services (NYSE:KAR) was upgraded by Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports.
In other KAR Auction Services news, CEO Donald Gottwald sold 7,000 shares of KAR Auction Services stock on the open market in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.46, for a total transaction of $199,220.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of other firms have also recently commented on KAR. Analysts at BB&T Corp. raised their price target on shares of KAR Auction Services 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 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 from an “underperform” rating to a “buy” rating in a research note to investors on Monday, August 12th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.40.
KAR Auction Services (NYSE:KAR) opened at 27.84 on Thursday. KAR Auction Services has a 52-week low of $17.00 and a 52-week high of $29.21. The stock has a 50-day moving average of $27.88 and a 200-day moving average of $24.42. The company has a market cap of $3.843 billion and a P/E ratio of 37.07.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results 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. On average, analysts predict that KAR Auction Services will post $1.22 earnings per share for the current fiscal year.
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).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.