Shares of KAR Auction Services Inc (NYSE:KAR) have been assigned an average rating of “Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $65.50.
Several equities research analysts have recently weighed in on KAR shares. SunTrust Banks set a $70.00 price target on KAR Auction Services and gave the company a “buy” rating in a research report on Thursday, August 9th. Gabelli cut KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. They noted that the move was a valuation call. Robert W. Baird upped their price target on KAR Auction Services from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, August 9th. Stephens reiterated a “hold” rating and set a $60.00 price target on shares of KAR Auction Services in a research report on Thursday, August 9th. Finally, Zacks Investment Research cut KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th.
Shares of KAR Auction Services stock opened at $54.73 on Thursday. KAR Auction Services has a 52-week low of $48.22 and a 52-week high of $64.55. The stock has a market capitalization of $7.37 billion, a P/E ratio of 18.43, a PEG ratio of 1.58 and a beta of 1.13. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.70.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, November 6th. The specialty retailer reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). KAR Auction Services had a net margin of 11.62% and a return on equity of 26.50%. The firm had revenue of $933.50 million during the quarter, compared to the consensus estimate of $910.43 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that KAR Auction Services will post 2.94 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Wednesday, December 19th. KAR Auction Services’s dividend payout ratio is presently 56.00%.
In other news, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $62.98, for a total transaction of $629,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.29% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. W.E. Donoghue & Co. LLC increased its position in shares of KAR Auction Services by 82.1% in the third quarter. W.E. Donoghue & Co. LLC now owns 16,038 shares of the specialty retailer’s stock worth $957,000 after purchasing an additional 7,233 shares during the last quarter. BlackRock Inc. increased its position in shares of KAR Auction Services by 19.5% in the second quarter. BlackRock Inc. now owns 7,506,952 shares of the specialty retailer’s stock worth $411,380,000 after purchasing an additional 1,226,197 shares during the last quarter. Mawer Investment Management Ltd. increased its position in shares of KAR Auction Services by 3.2% in the second quarter. Mawer Investment Management Ltd. now owns 3,385,579 shares of the specialty retailer’s stock worth $185,530,000 after purchasing an additional 103,842 shares during the last quarter. Richard Bernstein Advisors LLC bought a new position in shares of KAR Auction Services in the second quarter worth approximately $2,270,000. Finally, Bank of America Corp DE increased its position in shares of KAR Auction Services by 97.8% in the second quarter. Bank of America Corp DE now owns 1,477,098 shares of the specialty retailer’s stock worth $80,944,000 after purchasing an additional 730,355 shares during the last quarter. Institutional investors own 97.27% of the company’s stock.
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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