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KAR Auction Services (NYSE:KAR) Director Michael T. Kestner purchased 2,000 shares of the stock on the open market in a transaction dated Friday, August 15th. The stock was purchased at an average cost of $29.03 per share, with a total value of $58,060.00. Following the completion of the acquisition, the director now directly owns 5,922 shares of the company’s stock, valued at approximately $171,916. The transaction was disclosed in a 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, August 8th. They now have a $33.30 price target on the stock. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $33.83.

Shares of KAR Auction Services (NYSE:KAR) traded down 0.10% on Wednesday, hitting $29.98. 144,298 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 $30.42 and a 200-day moving average of $30.36. The company has a market cap of $4.213 billion and a P/E ratio of 55.37.

KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, August 5th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts predict that KAR Auction Services will post $1.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 2nd. Shareholders 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 3.33%. 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).

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