Equities research analysts expect that KAR Auction Services Inc (NYSE:KAR) will post sales of $898.79 million for the current quarter, according to Zacks. Five analysts have provided estimates for KAR Auction Services’ earnings. The highest sales estimate is $913.10 million and the lowest is $874.36 million. KAR Auction Services posted sales of $843.00 million during the same quarter last year, which suggests a positive year over year growth rate of 6.6%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, November 6th.
According to Zacks, analysts expect that KAR Auction Services will report full-year sales of $3.75 billion for the current year, with estimates ranging from $3.71 billion to $3.78 billion. For the next year, analysts anticipate that the firm will report sales of $3.98 billion, with estimates ranging from $3.91 billion to $4.06 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover KAR Auction Services.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings data on Tuesday, August 7th. The specialty retailer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. The firm had revenue of $956.60 million during the quarter, compared to analyst estimates of $923.01 million. KAR Auction Services had a return on equity of 26.15% and a net margin of 11.50%.
Several research firms have recently commented on KAR. Barrington Research set a $70.00 price objective on KAR Auction Services and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Tuesday, August 7th. Robert W. Baird upped their price objective on KAR Auction Services from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. SunTrust Banks set a $70.00 price objective on KAR Auction Services and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Gabelli lowered KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $65.29.
In related news, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $61.53, for a total value of $615,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James P. Hallett sold 150,000 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $62.11, for a total transaction of $9,316,500.00. The disclosure for this sale can be found here. Insiders sold a total of 277,560 shares of company stock valued at $17,295,354 in the last ninety days. 1.29% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Townsend & Associates Inc bought a new position in shares of KAR Auction Services during the 2nd quarter valued at about $120,000. Bruderman Asset Management LLC bought a new position in shares of KAR Auction Services during the 2nd quarter valued at about $121,000. Harvest Fund Management Co. Ltd bought a new position in shares of KAR Auction Services during the 3rd quarter valued at about $153,000. Tower Research Capital LLC TRC boosted its holdings in shares of KAR Auction Services by 1,334.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,199 shares of the specialty retailer’s stock valued at $175,000 after purchasing an additional 2,976 shares during the last quarter. Finally, Iberiabank Corp bought a new position in shares of KAR Auction Services during the 3rd quarter valued at about $206,000. 99.24% of the stock is owned by institutional investors.
Shares of NYSE:KAR traded down $0.60 during midday trading on Friday, hitting $57.57. The company had a trading volume of 1,401 shares, compared to its average volume of 848,149. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. KAR Auction Services has a 12-month low of $47.43 and a 12-month high of $64.55.
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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