KAR Auction Services Inc. (NYSE:KAR) Given Average Rating of “Buy” by Analysts
KAR Auction Services Inc. (NYSE:KAR) has been assigned an average rating of “Buy” from the nine analysts that are presently covering the firm. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $43.40.
Several research analysts have weighed in on the company. Zacks Investment Research cut KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 6th. Jefferies Group increased their target price on KAR Auction Services from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of KAR Auction Services in a report on Wednesday, August 3rd. Susquehanna initiated coverage on KAR Auction Services in a report on Friday, August 26th. They set a “positive” rating and a $50.00 target price on the stock. Finally, Northcoast Research lowered KAR Auction Services from a “buy” rating to a “neutral” rating in a report on Thursday, July 14th.
In other news, COO Donald S. Gottwald sold 18,125 shares of KAR Auction Services stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $40.38, for a total transaction of $731,887.50. Following the sale, the chief operating officer now directly owns 1,039 shares of the company’s stock, valued at $41,954.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas J. Caruso sold 48,860 shares of KAR Auction Services stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $41.14, for a total value of $2,010,100.40. Following the sale, the insider now directly owns 13,585 shares in the company, valued at $558,886.90. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
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Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. purchased a new stake in shares of KAR Auction Services during the second quarter worth approximately $1,754,000. KAMES CAPITAL plc purchased a new stake in shares of KAR Auction Services during the second quarter worth approximately $34,885,000. Braun Stacey Associates Inc. purchased a new stake in shares of KAR Auction Services during the second quarter worth approximately $340,000. Calvert Investment Management Inc. raised its stake in shares of KAR Auction Services by 9.6% in the second quarter. Calvert Investment Management Inc. now owns 11,087 shares of the company’s stock worth $463,000 after buying an additional 972 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of KAR Auction Services by 4.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 543,316 shares of the company’s stock worth $22,679,000 after buying an additional 24,523 shares during the last quarter.
Shares of KAR Auction Services (NYSE:KAR) traded up 1.02% during mid-day trading on Tuesday, reaching $42.46. The company’s stock had a trading volume of 663,536 shares. The firm has a market cap of $5.86 billion, a PE ratio of 26.57 and a beta of 1.48. The company has a 50-day moving average of $41.74 and a 200-day moving average of $40.18. KAR Auction Services has a 12 month low of $31.54 and a 12 month high of $43.91.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by $0.01. The firm had revenue of $771.80 million for the quarter, compared to the consensus estimate of $757.67 million. KAR Auction Services had a return on equity of 19.03% and a net margin of 7.79%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, analysts predict that KAR Auction Services will post $2.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Wednesday, September 21st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Monday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 72.50%.
KAR Auction Services Company Profile
KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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