KAR Auction Services, Inc (NYSE:KAR) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a note issued to investors on Thursday, Marketbeat Ratings reports.

KAR has been the subject of several other research reports. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Gabelli assumed coverage on KAR Auction Services in a report on Tuesday, July 4th. They set a “buy” rating and a $62.00 price objective for the company. Finally, BidaskClub lowered KAR Auction Services from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $56.50.

KAR Auction Services (KAR) traded down 1.47% on Thursday, hitting $44.96. The stock had a trading volume of 594,165 shares. KAR Auction Services has a 52-week low of $38.16 and a 52-week high of $47.03. The firm’s 50-day moving average is $43.26 and its 200-day moving average is $43.26. The company has a market cap of $6.18 billion, a P/E ratio of 27.58 and a beta of 1.10.

KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. The business had revenue of $858 million during the quarter, compared to analyst estimates of $850.67 million. KAR Auction Services had a return on equity of 21.46% and a net margin of 6.83%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS. Equities research analysts anticipate that KAR Auction Services will post $2.26 earnings per share for the current fiscal year.

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In other KAR Auction Services news, CEO John W. Kett sold 10,011 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $42.01, for a total value of $420,562.11. Following the completion of the sale, the chief executive officer now owns 65,982 shares of the company’s stock, valued at $2,771,903.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John W. Kett sold 10,008 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.06, for a total value of $420,936.48. Following the completion of the sale, the chief executive officer now directly owns 58,941 shares of the company’s stock, valued at approximately $2,479,058.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,039 shares of company stock valued at $1,279,186. 1.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of KAR. BlackRock Inc. boosted its stake in KAR Auction Services by 20,047.2% in the first quarter. BlackRock Inc. now owns 5,618,436 shares of the specialty retailer’s stock worth $245,357,000 after buying an additional 5,590,549 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in KAR Auction Services in the second quarter worth approximately $69,833,000. MARSHALL WACE ASIA Ltd purchased a new stake in KAR Auction Services in the first quarter worth approximately $71,664,000. Marshall Wace North America L.P. purchased a new stake in KAR Auction Services in the first quarter worth approximately $71,664,000. Finally, FMR LLC boosted its stake in KAR Auction Services by 9.7% in the first quarter. FMR LLC now owns 16,076,350 shares of the specialty retailer’s stock worth $702,054,000 after buying an additional 1,421,328 shares in the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

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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