KAR Auction Services (NYSE:KAR) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday, ValuEngine reports.
A number of other equities research analysts have also recently issued reports on KAR. SunTrust Banks decreased their target price 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. JPMorgan Chase & Co. cut KAR Auction Services from an “overweight” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Monday, July 1st. Guggenheim cut KAR Auction Services from a “neutral” rating to a “sell” rating and set a $20.00 target price for the company. in a research report on Tuesday, July 2nd. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, Barrington Research reissued a “buy” rating and issued a $42.50 price objective on shares of KAR Auction Services in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. KAR Auction Services presently has an average rating of “Hold” and a consensus target price of $42.50.
KAR Auction Services stock traded up $0.07 during trading hours on Thursday, reaching $26.45. 1,262,266 shares of the company were exchanged, compared to its average volume of 2,348,031. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.08. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.38. The firm has a 50-day moving average price of $35.56. KAR Auction Services has a 12 month low of $16.41 and a 12 month high of $27.15.
KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, May 7th. The specialty retailer reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. KAR Auction Services had a return on equity of 25.43% and a net margin of 8.17%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 EPS. Equities research analysts forecast that KAR Auction Services will post 1.29 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of KAR. Motco lifted its position in KAR Auction Services by 1,732.4% in the first quarter. Motco now owns 623 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 589 shares during the period. Arlington Partners LLC lifted its position in KAR Auction Services by 70.0% in the first quarter. Arlington Partners LLC now owns 850 shares of the specialty retailer’s stock worth $44,000 after purchasing an additional 350 shares during the period. Cornerstone Advisors Inc. bought a new position in KAR Auction Services in the first quarter worth $46,000. FTB Advisors Inc. lifted its position in KAR Auction Services by 75.9% in the first quarter. FTB Advisors Inc. now owns 1,038 shares of the specialty retailer’s stock worth $53,000 after purchasing an additional 448 shares during the period. Finally, Icon Wealth Partners LLC bought a new position in KAR Auction Services in the first quarter worth $57,000. 99.39% of the stock is owned by institutional investors.
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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