KAR Auction Services Inc. Reaches New 12-Month High at $30.46 (KAR)
KAR Auction Services (NYSE:KAR)’s share price reached a new 52-week high during trading hours on Friday, Analyst Ratings Net reports. The company traded as high as $30.46 and last traded at $30.26, with a volume of 850,161 shares traded. The stock had previously closed at $29.85.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of KAR Auction Services in a research note to investors on Friday, November 8th. They now have a $34.00 price target on the stock. Separately, analysts at BB&T Corp. raised their price target on shares of KAR Auction Services to $33.00 in a research note to investors on Friday, November 8th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of KAR Auction Services from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, November 6th. They now have a $30.80 price target 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 a consensus rating of “Buy” and an average price target of $31.80.
In other KAR Auction Services news, CEO Thomas Caruso unloaded 5,000 shares of the stock on the open market in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $28.73, for a total transaction of $143,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
KAR Auction Services has a 52 week low of $19.06 and a 52 week high of $30.32. The stock has a 50-day moving average of $28.33 and a 200-day moving average of $27.18. The company has a market cap of $4.179 billion and a price-to-earnings ratio of 38.77.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.01. The company had revenue of $533.70 million for the quarter, compared to the consensus estimate of $510.71 million. During the same quarter last year, the company posted $0.23 earnings per share. KAR Auction Services’s revenue was up 12.4% compared to the same quarter last 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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