Aptus Capital Advisors LLC increased its holdings in shares of KAR Auction Services Inc (NYSE:KAR) by 18.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,699 shares of the specialty retailer’s stock after buying an additional 1,989 shares during the quarter. Aptus Capital Advisors LLC’s holdings in KAR Auction Services were worth $317,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of KAR Auction Services by 46.2% during the first quarter. BlackRock Inc. now owns 10,730,329 shares of the specialty retailer’s stock worth $550,575,000 after acquiring an additional 3,392,759 shares during the period. Mawer Investment Management Ltd. increased its holdings in KAR Auction Services by 7.9% during the 2nd quarter. Mawer Investment Management Ltd. now owns 3,978,332 shares of the specialty retailer’s stock worth $99,458,000 after purchasing an additional 290,995 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of KAR Auction Services by 44.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,416,468 shares of the specialty retailer’s stock valued at $85,412,000 after purchasing an additional 1,052,915 shares during the period. Bessemer Group Inc. raised its stake in shares of KAR Auction Services by 9.2% in the 2nd quarter. Bessemer Group Inc. now owns 2,719,450 shares of the specialty retailer’s stock valued at $67,988,000 after purchasing an additional 229,719 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of KAR Auction Services by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 2,454,929 shares of the specialty retailer’s stock valued at $152,403,000 after purchasing an additional 20,859 shares in the last quarter.
Several research analysts have recently weighed in on KAR shares. Robert W. Baird assumed coverage on KAR Auction Services in a research report on Friday, June 28th. They set an “outperform” rating for the company. Guggenheim lowered KAR Auction Services from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded KAR Auction Services from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 29th. Barrington Research reaffirmed a “buy” rating and set a $42.50 price target on shares of KAR Auction Services in a research report on Friday, June 28th. Finally, SunTrust Banks reduced their price target on KAR Auction Services from $65.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $39.58.
Shares of KAR stock opened at $27.35 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.00. KAR Auction Services Inc has a 1 year low of $16.41 and a 1 year high of $28.61. The firm’s fifty day moving average price is $25.81 and its two-hundred day moving average price is $43.58. The firm has a market capitalization of $3.54 billion, a P/E ratio of 9.24, a PEG ratio of 1.48 and a beta of 1.09.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, August 6th. The specialty retailer reported $0.30 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.10). KAR Auction Services had a return on equity of 19.93% and a net margin of 7.67%. The business had revenue of $719.00 million for the quarter, compared to the consensus estimate of $692.00 million. During the same period last year, the firm earned $0.82 earnings per share. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts forecast that KAR Auction Services Inc will post 1.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 20th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, September 19th. KAR Auction Services’s dividend payout ratio is currently 47.30%.
About KAR Auction Services
KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
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