Insider Selling: Thomas J. Caruso Sells 12,023 Shares of KAR Auction Services Stock (KAR)
KAR Auction Services (NYSE:KAR) Insider Thomas J. Caruso sold 12,023 shares of KAR Auction Services stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $30.14, for a total value of $362,373.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of KAR Auction Services from $34.00 to $36.00 in a research note on Thursday, March 27th. Seven equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $32.56.
KAR Auction Services (NYSE:KAR) traded down 0.20% on Wednesday, hitting $30.22. The stock had a trading volume of 449,232 shares. KAR Auction Services has a 1-year low of $21.05 and a 1-year high of $32.24. The stock’s 50-day moving average is $30.2 and its 200-day moving average is $29.32. The company has a market cap of $4.206 billion and a price-to-earnings ratio of 63.08.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $583.80 million for the quarter, compared to the consensus estimate of $581.95 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts predict that KAR Auction Services will post $1.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, July 3rd. Shareholders of record on Wednesday, June 25th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Monday, June 23rd.
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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