Karooooo Ltd. (NASDAQ:KARO) Given Average Rating of “Moderate Buy” by Analysts

Karooooo Ltd. (NASDAQ:KARO) has been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $59.20.

A number of research firms have recently weighed in on KARO. UBS Group decreased their price target on shares of Karooooo from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Wall Street Zen downgraded shares of Karooooo from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reissued a “buy (b-)” rating on shares of Karooooo in a research report on Friday, April 24th. Roth Mkm restated a “buy” rating and set a $68.00 price objective on shares of Karooooo in a research note on Thursday, May 14th. Finally, Needham & Company LLC restated a “buy” rating on shares of Karooooo in a research note on Wednesday, June 3rd.

Institutional Investors Weigh In On Karooooo

Hedge funds have recently added to or reduced their stakes in the stock. Fideuram Asset Management Ireland dac bought a new stake in Karooooo in the fourth quarter valued at $80,000. Royal Bank of Canada lifted its stake in Karooooo by 852.9% in the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock valued at $135,000 after buying an additional 2,644 shares during the last quarter. Quantbot Technologies LP bought a new stake in Karooooo in the second quarter valued at $156,000. New York State Common Retirement Fund lifted its stake in Karooooo by 465.6% in the second quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock valued at $160,000 after buying an additional 2,682 shares during the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Karooooo during the second quarter valued at about $214,000.

Karooooo Stock Up 0.3%

Shares of NASDAQ:KARO opened at $47.95 on Thursday. 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 has a 52-week low of $41.25 and a 52-week high of $60.53. The company has a 50 day moving average of $48.40 and a two-hundred day moving average of $47.81. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 25.92 and a beta of 0.89.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $0.45 earnings per share (EPS) for the quarter. Karooooo had a net margin of 18.07% and a return on equity of 31.26%. The company had revenue of $90.93 million during the quarter. As a group, analysts forecast that Karooooo will post 2.37 earnings per share for the current fiscal 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 dividend of $1.50 per share. This represents a yield of 347.0%. This is a boost from Karooooo’s previous annual dividend of $1.25. The ex-dividend date is Friday, July 17th. Karooooo’s dividend payout ratio (DPR) is 67.57%.

About Karooooo

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.