Shares of KAR Auction Services, Inc (NYSE:KAR) have received a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $56.00.

KAR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Gabelli initiated coverage on shares of KAR Auction Services in a report on Tuesday, July 4th. They issued a “buy” rating and a $62.00 price target on the stock. Finally, BidaskClub upgraded shares of KAR Auction Services from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th.

In other KAR Auction Services news, CEO John W. Kett sold 10,008 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $42.06, for a total transaction of $420,936.48. Following the transaction, the chief executive officer now directly owns 58,941 shares in the company, valued at approximately $2,479,058.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Kett sold 10,011 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $42.01, for a total transaction of $420,562.11. Following the transaction, the chief executive officer now owns 65,982 shares in the company, valued at $2,771,903.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,932 shares of company stock worth $1,276,878. Company insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of KAR Auction Services by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 6,398 shares of the specialty retailer’s stock valued at $280,000 after buying an additional 69 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of KAR Auction Services by 0.7% in the second quarter. Teacher Retirement System of Texas now owns 10,954 shares of the specialty retailer’s stock valued at $460,000 after buying an additional 81 shares during the last quarter. Comerica Bank boosted its position in shares of KAR Auction Services by 1.4% in the first quarter. Comerica Bank now owns 6,094 shares of the specialty retailer’s stock valued at $269,000 after buying an additional 87 shares during the last quarter. Utah Retirement Systems boosted its position in shares of KAR Auction Services by 0.4% in the first quarter. Utah Retirement Systems now owns 25,200 shares of the specialty retailer’s stock valued at $1,100,000 after buying an additional 100 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC boosted its position in shares of KAR Auction Services by 0.6% in the second quarter. Dumont & Blake Investment Advisors LLC now owns 16,180 shares of the specialty retailer’s stock valued at $679,000 after buying an additional 100 shares during the last quarter.

Shares of KAR Auction Services (NYSE:KAR) opened at 42.55 on Friday. The stock has a market capitalization of $5.79 billion, a PE ratio of 26.10 and a beta of 1.12. KAR Auction Services has a 52-week low of $38.16 and a 52-week high of $47.03. The stock has a 50 day moving average of $41.64 and a 200 day moving average of $43.44.

KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.07. The firm had revenue of $858 million for the quarter, compared to analysts’ expectations of $850.67 million. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.56%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. Analysts forecast that KAR Auction Services will post $2.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Tuesday, September 19th. KAR Auction Services’s payout ratio is presently 78.53%.

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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 or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

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