Karooooo Ltd. (NASDAQ:KARO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Karooooo Ltd. (NASDAQ:KARO) have received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $59.20.

A number of equities analysts recently weighed in on KARO shares. Roth Mkm reissued a “buy” rating and issued a $68.00 price target on shares of Karooooo in a report on Thursday, May 14th. Wall Street Zen downgraded Karooooo from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group dropped their price objective on Karooooo from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Karooooo in a research note on Friday, April 24th.

Institutional Investors Weigh In On Karooooo

Institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its position in shares of Karooooo by 159.4% during the third quarter. Jones Financial Companies Lllp now owns 804 shares of the company’s stock worth $46,000 after acquiring an additional 494 shares in the last quarter. Murphy & Mullick Capital Management Corp lifted its holdings in shares of Karooooo by 260.0% in the third quarter. Murphy & Mullick Capital Management Corp now owns 900 shares of the company’s stock worth $51,000 after buying an additional 650 shares in the last quarter. Fideuram Asset Management Ireland dac purchased a new stake in shares of Karooooo in the fourth quarter worth about $80,000. Royal Bank of Canada lifted its holdings in shares of Karooooo by 852.9% in the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock worth $135,000 after buying an additional 2,644 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Karooooo in the second quarter worth about $156,000.

Karooooo Price Performance

Shares of NASDAQ KARO opened at $47.70 on Friday. Karooooo has a twelve month low of $41.25 and a twelve month high of $63.36. The stock’s 50 day moving average price is $48.90 and its 200-day moving average price is $47.39. The company has a market capitalization of $1.47 billion, a PE ratio of 25.78 and a beta of 0.92. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.17.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $0.45 earnings per share for the quarter. The company had revenue of $90.93 million for the quarter. Karooooo had a net margin of 18.07% and a return on equity of 31.26%. On average, equities analysts anticipate that Karooooo will post 2.37 EPS for the current year.

Karooooo Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, July 27th. Investors of record on Friday, July 17th will be paid a $1.50 dividend. The ex-dividend date is Friday, July 17th. This is a positive change from Karooooo’s previous annual dividend of $1.25. This represents a yield of 347.0%. Karooooo’s dividend payout ratio (DPR) is currently 81.08%.

Karooooo Company Profile

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.