KAR Auction Services, Inc (NYSE:KAR) has been assigned an average rating of “Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $56.00.
A number of equities analysts have recently commented on KAR shares. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. BidaskClub raised KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Gabelli started coverage on KAR Auction Services in a research report on Tuesday, July 4th. They set a “buy” rating and a $62.00 price objective for the company.
In other news, CEO John W. Kett sold 10,008 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $42.06, for a total transaction of $420,936.48. Following the completion of the transaction, the chief executive officer now directly owns 58,941 shares of the company’s stock, valued at $2,479,058.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John W. Kett sold 10,011 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $42.01, for a total value of $420,562.11. Following the transaction, the chief executive officer now directly owns 65,982 shares of the company’s stock, valued at $2,771,903.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,932 shares of company stock valued at $1,276,878. Corporate insiders own 1.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Motley Fool Wealth Management LLC increased its position in shares of KAR Auction Services by 5.7% in the first quarter. Motley Fool Wealth Management LLC now owns 128,585 shares of the specialty retailer’s stock worth $5,615,000 after buying an additional 6,963 shares during the period. Parametrica Management Ltd acquired a new position in shares of KAR Auction Services during the first quarter worth about $238,000. CENTRAL TRUST Co acquired a new position in shares of KAR Auction Services during the second quarter worth about $150,000. Visionary Asset Management Inc. acquired a new position in shares of KAR Auction Services during the second quarter worth about $309,000. Finally, Vanguard Group Inc. increased its position in shares of KAR Auction Services by 4.8% in the first quarter. Vanguard Group Inc. now owns 11,286,742 shares of the specialty retailer’s stock worth $492,891,000 after buying an additional 521,526 shares during the period.
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Shares of KAR Auction Services (NYSE KAR) opened at 42.55 on Friday. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 26.10 and a beta of 1.12. KAR Auction Services has a 52-week low of $38.16 and a 52-week high of $47.03. The firm’s 50 day moving average is $41.64 and its 200 day moving average is $43.44.
KAR Auction Services (NYSE:KAR) last released its earnings results on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $858 million during the quarter, compared to the consensus estimate of $850.67 million. KAR Auction Services had a return on equity of 21.56% and a net margin of 6.83%. KAR Auction Services’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 EPS. Equities analysts expect that KAR Auction Services will post $2.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Wednesday, September 20th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio is presently 78.53%.
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 or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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