Insider Selling: Thomas J. Caruso Sells 3,585 Shares of KAR Auction Services Stock (KAR)
KAR Auction Services (NYSE:KAR) Insider Thomas J. Caruso unloaded 3,585 shares of KAR Auction Services stock on the open market in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $29.06, for a total value of $104,180.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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 analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. KAR Auction Services currently has a consensus rating of “Buy” and an average target price of $31.80.
KAR Auction Services (NYSE:KAR) traded down 0.69% during mid-day trading on Wednesday, hitting $29.295. 736,969 shares of the company’s stock traded hands. KAR Auction Services has a one year low of $19.06 and a one year high of $30.46. The stock’s 50-day moving average is $28.60 and its 200-day moving average is $27.63. The company has a market cap of $4.067 billion and a price-to-earnings ratio of 38.31.
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. Analysts expect that KAR Auction Services will post $1.20 EPS 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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