KAR Auction Services Inc. (NYSE:KAR) EVP Lisa A. Price sold 5,140 shares of the stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $44.00, for a total transaction of $226,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of KAR Auction Services Inc. (NYSE:KAR) opened at 43.45 on Friday. The firm has a market capitalization of $5.99 billion, a P/E ratio of 27.19 and a beta of 1.37. The stock has a 50 day moving average of $42.57 and a 200-day moving average of $40.77. KAR Auction Services Inc. has a 12-month low of $31.54 and a 12-month high of $44.10.
KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. KAR Auction Services had a net margin of 7.79% and a return on equity of 19.03%. The firm earned $771.80 million during the quarter, compared to analyst estimates of $757.67 million. During the same period in the prior year, the company earned $0.51 EPS. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts predict that KAR Auction Services Inc. will post $2.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Wednesday, September 21st were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Monday, September 19th. KAR Auction Services’s dividend payout ratio is currently 72.50%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in KAR Auction Services during the second quarter valued at about $137,000. BlackRock Japan Co. Ltd boosted its stake in shares of KAR Auction Services by 85.7% in the second quarter. BlackRock Japan Co. Ltd now owns 3,636 shares of the company’s stock valued at $152,000 after buying an additional 1,678 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of KAR Auction Services by 508.5% in the second quarter. Pacer Advisors Inc. now owns 4,150 shares of the company’s stock valued at $174,000 after buying an additional 3,468 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of KAR Auction Services during the second quarter valued at approximately $205,000. Finally, Parametrica Management Ltd bought a new stake in shares of KAR Auction Services during the second quarter valued at approximately $206,000.
A number of analysts recently weighed in on KAR shares. Susquehanna started coverage on shares of KAR Auction Services in a research report on Friday, August 26th. They issued a “positive” rating and a $50.00 price target on the stock. Zacks Investment Research downgraded shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Wednesday. Macquarie reiterated an “outperform” rating on shares of KAR Auction Services in a research report on Monday, August 29th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, August 3rd. Finally, Jefferies Group increased their price target on shares of KAR Auction Services from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $43.71.
KAR Auction Services Company Profile
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), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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