KAR Auction Services Sees Unusually High Options Volume (KAR)

KAR Auction Services, Inc (NYSE:KAR) saw some unusual options trading activity on Friday. Stock traders bought 718 call options on the company. This is an increase of approximately 786% compared to the typical daily volume of 81 call options.

Shares of KAR Auction Services (NYSE KAR) opened at $50.19 on Monday. The firm has a market capitalization of $6,788.95, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07. KAR Auction Services has a twelve month low of $40.27 and a twelve month high of $50.69. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.06. The firm had revenue of $843.00 million during the quarter, compared to analysts’ expectations of $846.42 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 EPS. equities analysts anticipate that KAR Auction Services will post 2.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th will be issued a dividend of $0.35 per share. This is a boost from KAR Auction Services’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 2.79%. The ex-dividend date is Tuesday, December 19th. KAR Auction Services’s payout ratio is currently 75.29%.

Several brokerages have recently commented on KAR. Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Wednesday, November 8th. Gabelli downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research note on Thursday, November 2nd. J P Morgan Chase & Co boosted their target price on shares of KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Jefferies Group restated a “buy” rating and issued a $50.00 target price on shares of KAR Auction Services in a research note on Tuesday, September 12th. Finally, Stephens downgraded shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $51.00 to $48.00 in a research note on Thursday, September 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.20.

In other KAR Auction Services news, EVP Benjamin Skuy sold 12,000 shares of KAR Auction Services stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $48.50, for a total transaction of $582,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $48.14, for a total transaction of $481,400.00. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of KAR Auction Services by 8.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 81,601 shares of the specialty retailer’s stock valued at $3,896,000 after acquiring an additional 6,437 shares during the last quarter. Wealthsource Partners LLC grew its position in shares of KAR Auction Services by 22.7% in the 3rd quarter. Wealthsource Partners LLC now owns 9,590 shares of the specialty retailer’s stock valued at $458,000 after purchasing an additional 1,772 shares during the period. RWC Asset Management LLP acquired a new position in shares of KAR Auction Services in the 3rd quarter valued at approximately $10,598,000. Sterling Capital Management LLC grew its position in shares of KAR Auction Services by 15.2% in the 3rd quarter. Sterling Capital Management LLC now owns 748,383 shares of the specialty retailer’s stock valued at $35,728,000 after purchasing an additional 98,734 shares during the period. Finally, Neuberger Berman Group LLC acquired a new position in shares of KAR Auction Services in the 3rd quarter valued at approximately $233,000. 99.26% of the stock is owned by institutional investors.

WARNING: “KAR Auction Services Sees Unusually High Options Volume (KAR)” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/12/04/kar-auction-services-sees-unusually-high-options-volume-kar.html.

About KAR Auction Services

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).

Receive News & Ratings for KAR Auction Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply