Insider Selling: Thomas J. Caruso Sells 8,075 Shares of KAR Auction Services Stock (KAR)
KAR Auction Services (NYSE:KAR) Insider Thomas J. Caruso sold 8,075 shares of the stock on the open market in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $31.00, for a total value of $250,325.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on KAR shares. Analysts at Ned Davis Research upgraded shares of KAR Auction Services from a “sell” rating to a “neutral” rating in a research note on Monday, May 12th. 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $32.56.
Shares of KAR Auction Services (NYSE:KAR) traded up 1.21% during mid-day trading on Tuesday, hitting $31.77. The stock had a trading volume of 585,917 shares. KAR Auction Services has a 52 week low of $21.52 and a 52 week high of $32.24. The stock has a 50-day moving average of $30.38 and a 200-day moving average of $29.67. The company has a market cap of $4.441 billion and a price-to-earnings ratio of 74.56.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that KAR Auction Services will post $1.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 3rd. Investors of record on Wednesday, June 25th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend 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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