KAR Auction Services Inc. Sets New 1-Year High at $29.76 (KAR)
KAR Auction Services (NYSE:KAR) set a new 52-week high during trading on Thursday, Analyst Ratings Network reports. The stock traded as high as $29.76 and last traded at $29.71, with a volume of 429,318 shares. The stock had previously closed at $29.60.
A number of analysts have recently weighed in on KAR shares. Analysts at Goldman Sachs Group Inc. upgraded shares of KAR Auction Services from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, October 10th. They now have a $33.00 price target on the stock, up previously from $27.50. Separately, 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. Finally, 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. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $29.17.
In other KAR Auction Services news, CEO Thomas Caruso sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $28.69, for a total value of $286,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
KAR Auction Services has a 1-year low of $17.00 and a 1-year high of $28.67. The stock’s 50-day moving average is $26.72 and its 200-day moving average is $23.38. The company has a market cap of $4.140 billion and a P/E ratio of 39.41.
KAR Auction Services (NYSE:KAR) last released its earnings data on Tuesday, August 6th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. 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).
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