KAR Auction Services Upgraded to Outperform at Zacks (KAR)
KAR Auction Services (NYSE:KAR) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday. The firm currently has a $33.30 target price on the stock. Zacks‘s price target indicates a potential upside of 14.37% from the stock’s previous close.
Separately, 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $32.55.
In other KAR Auction Services news, Insider Thomas J. Caruso sold 9,925 shares of the company’s stock on the open market in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.01, for a total value of $287,924.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of KAR Auction Services (NYSE:KAR) traded up 0.48% during mid-day trading on Friday, hitting $29.12. 944,021 shares of the company’s stock traded hands. KAR Auction Services has a 52-week low of $26.29 and a 52-week high of $32.65. The stock has a 50-day moving average of $30.87 and a 200-day moving average of $30.26. The company has a market cap of $4.109 billion and a P/E ratio of 53.47.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $585.60 million for the quarter, compared to the consensus estimate of $577.69 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that KAR Auction Services will post $1.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 2nd. Investors of record on Wednesday, September 24th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Monday, September 22nd.
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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