Karooooo Ltd. (NASDAQ:KARO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Karooooo Ltd. (NASDAQ:KARO) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $59.00.

Several equities research analysts recently weighed in on KARO shares. Weiss Ratings restated a “buy (b-)” rating on shares of Karooooo in a research report on Friday, April 24th. Roth Mkm began coverage on Karooooo in a research note on Tuesday, February 17th. They set a “buy” rating and a $62.00 price objective for the company. Finally, Wall Street Zen upgraded Karooooo from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th.

Karooooo Trading Down 0.4%

NASDAQ KARO opened at $48.43 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. Karooooo has a twelve month low of $41.25 and a twelve month high of $63.36. The firm has a market capitalization of $1.50 billion, a PE ratio of 26.18 and a beta of 0.92. The stock’s 50 day moving average is $48.91 and its 200 day moving average is $47.20.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KARO. Capricorn Fund Managers Ltd raised its stake in Karooooo by 39.4% during the fourth quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock valued at $10,833,000 after buying an additional 67,322 shares during the last quarter. Marshall Wace LLP raised its stake in Karooooo by 699.1% during the second quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock valued at $2,723,000 after buying an additional 48,644 shares during the last quarter. Two Sigma Investments LP raised its stake in Karooooo by 115.4% during the third quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock valued at $4,234,000 after buying an additional 39,709 shares during the last quarter. Aurora Investment Counsel purchased a new position in Karooooo during the fourth quarter valued at $1,651,000. Finally, Russell Investments Group Ltd. purchased a new position in Karooooo during the second quarter valued at $1,378,000.

Karooooo Company Profile

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.