KAR Auction Services, Inc (NYSE:KAR) – Equities researchers at Northcoast Research increased their FY2017 EPS estimates for KAR Auction Services in a note issued to investors on Thursday. Northcoast Research analyst J. Healy now expects that the specialty retailer will post earnings of $2.25 per share for the year, up from their prior forecast of $2.19.

KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. The business had revenue of $858 million during the quarter, compared to the consensus estimate of $850.67 million. KAR Auction Services had a net margin of 6.83% and a return on equity of 21.46%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.55 earnings per share.

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A number of other equities analysts have also recently issued reports on KAR. Zacks Investment Research upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, May 12th. BidaskClub cut KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, Gabelli started coverage on KAR Auction Services in a report on Tuesday, July 4th. They set a “buy” rating and a $62.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $54.33.

Shares of KAR Auction Services (KAR) opened at 43.04 on Monday. The company has a 50-day moving average of $41.68 and a 200 day moving average of $43.43. KAR Auction Services has a 12-month low of $38.16 and a 12-month high of $47.03. The firm has a market cap of $5.91 billion, a P/E ratio of 26.40 and a beta of 1.12.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 78.53%.

In other news, CEO John W. Kett sold 9,913 shares of KAR Auction Services stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $43.92, for a total transaction of $435,378.96. Following the transaction, the chief executive officer now owns 51,805 shares in the company, valued at approximately $2,275,275.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Kett sold 10,008 shares of KAR Auction Services stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $42.06, for a total value of $420,936.48. Following the transaction, the chief executive officer now owns 58,941 shares in the company, valued at approximately $2,479,058.46. The disclosure for this sale can be found here. Insiders have sold a total of 29,932 shares of company stock worth $1,276,878 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in KAR. Envestnet Asset Management Inc. raised its stake 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 worth $280,000 after buying an additional 69 shares in the last quarter. Teacher Retirement System of Texas raised its stake 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 worth $460,000 after buying an additional 81 shares in the last quarter. Comerica Bank raised its stake 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 worth $269,000 after buying an additional 87 shares in the last quarter. Utah Retirement Systems raised its stake 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 worth $1,100,000 after buying an additional 100 shares in the last quarter. Finally, Dumont & Blake Investment Advisors LLC raised its stake 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 worth $679,000 after buying an additional 100 shares in the last quarter.

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).

Earnings History and Estimates for KAR Auction Services (NYSE:KAR)

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