KAR Auction Services (NYSE:KAR)‘s stock had its “buy” rating restated by investment analysts at Barrington Research in a research report issued on Thursday, AnalystRatings.com reports. They presently have a $25.00 target price on the specialty retailer’s stock. Barrington Research’s price target would indicate a potential upside of 104.92% from the company’s current price.
KAR has been the subject of a number of other reports. Bank of America downgraded shares of KAR Auction Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 18th. Stephens cut their target price on shares of KAR Auction Services from $22.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday. Zacks Investment Research upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Thursday, February 20th. Guggenheim upgraded shares of KAR Auction Services from a “sell” rating to a “neutral” rating in a research note on Tuesday, March 10th. Finally, Jefferies Financial Group downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research note on Friday, January 10th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. KAR Auction Services has an average rating of “Hold” and a consensus price target of $23.71.
Shares of KAR Auction Services stock traded up $0.18 during trading hours on Thursday, reaching $12.20. 2,233,178 shares of the company’s stock were exchanged, compared to its average volume of 3,032,697. The company has a 50 day moving average of $19.00 and a two-hundred day moving average of $22.04. KAR Auction Services has a fifty-two week low of $9.75 and a fifty-two week high of $28.61. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.35. The stock has a market cap of $1.57 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.64 and a beta of 0.97.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.04). KAR Auction Services had a return on equity of 12.57% and a net margin of 6.00%. The business had revenue of $671.30 million for the quarter, compared to analyst estimates of $658.13 million. As a group, analysts expect that KAR Auction Services will post 1.33 earnings per share for the current fiscal year.
In other news, EVP Benjamin Skuy bought 7,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of $22.45 per share, for a total transaction of $157,150.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Didomenico bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average price of $21.77 per share, with a total value of $217,700.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $217,700. The disclosure for this purchase can be found here. Insiders purchased a total of 128,355 shares of company stock valued at $2,326,340 over the last quarter. 1.10% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. State Street Corp increased its stake in KAR Auction Services by 79.6% in the third quarter. State Street Corp now owns 3,461,253 shares of the specialty retailer’s stock valued at $85,361,000 after acquiring an additional 1,533,918 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of KAR Auction Services by 3,783.5% in the fourth quarter. State of Michigan Retirement System now owns 1,502,900 shares of the specialty retailer’s stock worth $32,748,000 after buying an additional 1,464,200 shares during the last quarter. Norges Bank purchased a new position in shares of KAR Auction Services in the fourth quarter worth approximately $31,619,000. Schroder Investment Management Group boosted its holdings in shares of KAR Auction Services by 46.4% in the fourth quarter. Schroder Investment Management Group now owns 3,646,610 shares of the specialty retailer’s stock worth $79,459,000 after buying an additional 1,155,765 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of KAR Auction Services by 381.5% in the third quarter. Millennium Management LLC now owns 1,026,413 shares of the specialty retailer’s stock worth $25,198,000 after buying an additional 813,225 shares during the last quarter.
KAR Auction Services Company Profile
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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