Insider Selling: Thomas J. Caruso Sells 8,075 Shares of KAR Auction Services Stock (KAR)
KAR Auction Services (NYSE:KAR) Insider Thomas J. Caruso unloaded 8,075 shares of the stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $29.40, for a total transaction of $237,405.00. The transaction was disclosed in a filing with the SEC, which can be accessed through 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, August 8th. They now have a $33.30 price target on the stock. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $33.83.
Shares of KAR Auction Services (NYSE:KAR) traded up 1.84% on Monday, hitting $29.81. 618,415 shares of the company’s stock traded hands. KAR Auction Services has a one year low of $26.35 and a one year high of $32.65. The stock has a 50-day moving average of $30.4 and a 200-day moving average of $30.34. The company has a market cap of $4.189 billion and a P/E ratio of 54.00.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.34 earnings per share. KAR Auction Services’s revenue was up 8.2% compared to the same quarter last year. Analysts expect that KAR Auction Services will post $1.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 2nd. Investors of record on Wednesday, September 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend 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).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.