KAR Auction Services Insider Thomas J. Caruso Sells 7,042 Shares (KAR)
KAR Auction Services (NYSE:KAR) Insider Thomas J. Caruso unloaded 7,042 shares of the stock on the open market in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $30.18, for a total value of $212,527.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $33.83.
KAR Auction Services (NYSE:KAR) traded down 0.07% during mid-day trading on Wednesday, hitting $30.33. 806,352 shares of the company’s stock traded hands. KAR Auction Services has a 52-week low of $26.90 and a 52-week high of $32.65. The stock’s 50-day moving average is $29.9 and its 200-day moving average is $30.5. The company has a market cap of $4.263 billion and a P/E ratio of 56.00.
KAR Auction Services (NYSE:KAR) last announced its earnings results 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 $1.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 2nd. Stockholders 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 3.30%. 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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