KAR Auction Services CEO Sells $295,500 in Stock (KAR)
KAR Auction Services (NYSE:KAR) CEO Thomas Caruso sold 10,000 shares of KAR Auction Services stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $29.55, for a total transaction of $295,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
KAR Auction Services (NYSE:KAR) traded down 0.07% on Tuesday, hitting $29.47. 669,405 shares of the company’s stock traded hands. KAR Auction Services has a 52-week low of $17.00 and a 52-week 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 $4.068 billion and a P/E ratio of 39.27.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results 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 previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts expect that KAR Auction Services will post $1.22 EPS for the current fiscal year.
KAR has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of KAR Auction Services from $29.00 to $34.00 in a research note to investors on Monday, October 21st. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $30.00.
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.