Equities research analysts predict that KAR Auction Services Inc (NYSE:KAR) will report $0.52 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for KAR Auction Services’ earnings. The highest EPS estimate is $0.55 and the lowest is $0.50. KAR Auction Services posted earnings of $0.45 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 15.6%. The company is expected to announce its next earnings report before the market opens on Tuesday, February 20th.
On average, analysts expect that KAR Auction Services will report full-year earnings of $2.37 per share for the current year, with EPS estimates ranging from $2.35 to $2.40. For the next financial year, analysts forecast that the company will report earnings of $2.66 per share, with EPS estimates ranging from $2.52 to $2.89. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for KAR Auction Services.
Several research analysts have recently issued reports on the company. Stephens set a $57.00 price objective on KAR Auction Services and gave the stock a “hold” rating in a research report on Wednesday, January 17th. Zacks Investment Research downgraded KAR Auction Services from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Gabelli downgraded KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. upped their price objective on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $54.40.
KAR Auction Services (NYSE:KAR) traded up $0.36 during trading hours on Friday, hitting $50.62. The stock had a trading volume of 872,753 shares, compared to its average volume of 743,826. The firm has a market cap of $6,803.82, a PE ratio of 21.97, a P/E/G ratio of 1.72 and a beta of 1.10. KAR Auction Services has a twelve month low of $40.27 and a twelve month high of $55.19. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90.
In other news, EVP Lisa A. Price sold 10,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $51.18, for a total transaction of $511,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Benjamin Skuy sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total value of $582,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,563 shares of company stock valued at $1,448,530. 1.30% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of KAR. Prudential Financial Inc. raised its stake in shares of KAR Auction Services by 12.5% during the 2nd quarter. Prudential Financial Inc. now owns 7,220 shares of the specialty retailer’s stock worth $303,000 after buying an additional 800 shares in the last quarter. Nationwide Fund Advisors grew its holdings in shares of KAR Auction Services by 27.6% in the 2nd quarter. Nationwide Fund Advisors now owns 66,325 shares of the specialty retailer’s stock worth $2,784,000 after acquiring an additional 14,352 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of KAR Auction Services by 105.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock worth $171,000 after acquiring an additional 2,087 shares during the period. Advisor Group Inc. grew its holdings in shares of KAR Auction Services by 109.6% in the 2nd quarter. Advisor Group Inc. now owns 6,332 shares of the specialty retailer’s stock worth $250,000 after acquiring an additional 3,311 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of KAR Auction Services by 158.4% in the 2nd quarter. Renaissance Technologies LLC now owns 400,300 shares of the specialty retailer’s stock worth $16,801,000 after acquiring an additional 245,400 shares during the period. 98.89% of the stock is owned by institutional investors and hedge funds.
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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).
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