KAR Auction Services Insider Sells $235,629 in Stock (KAR)
KAR Auction Services (NYSE:KAR) Insider Thomas J. Caruso sold 8,075 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $29.18, for a total value of $235,628.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Separately, analysts at Zacks upgraded shares of KAR Auction Services from a “neutral” rating to an “outperform” rating in a research note on Friday. They now have a $33.30 price target on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.55.
Shares of KAR Auction Services (NYSE:KAR) traded down 1.06% on Tuesday, hitting $28.94. 2,204,052 shares of the company’s stock traded hands. KAR Auction Services has a 1-year low of $26.29 and a 1-year high of $32.65. The stock has a 50-day moving average of $30.79 and a 200-day moving average of $30.28. The company has a market cap of $4.067 billion and a price-to-earnings ratio of 53.97.
KAR Auction Services (NYSE:KAR) last released its 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. Analysts expect that KAR Auction Services will post $1.43 EPS 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 3.45%. 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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