KAR Auction Services, Inc (KAR) Given Buy Rating at Jefferies Group LLC

Jefferies Group LLC reissued their buy rating on shares of KAR Auction Services, Inc (NYSE:KAR) in a research report released on Tuesday morning. The firm currently has a $50.00 price objective on the specialty retailer’s stock.

Other analysts have also issued reports about the company. Gabelli assumed coverage on KAR Auction Services in a report on Tuesday, July 4th. They issued a buy rating and a $62.00 price objective for the company. BidaskClub raised KAR Auction Services from a sell rating to a hold rating in a report on Monday, July 31st. Zacks Investment Research lowered KAR Auction Services from a hold rating to a sell rating in a report on Wednesday, July 12th. Finally, Stephens lowered KAR Auction Services from an overweight rating to an equal weight rating and lowered their price objective for the company from $51.00 to $48.00 in a report on Thursday, September 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. KAR Auction Services presently has an average rating of Buy and an average target price of $52.75.

KAR Auction Services (NYSE KAR) opened at 45.27 on Tuesday. The stock has a market cap of $6.22 billion, a P/E ratio of 27.77 and a beta of 1.10. The stock has a 50 day moving average price of $43.57 and a 200-day moving average price of $43.26. KAR Auction Services has a 12-month low of $38.16 and a 12-month high of $47.03.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The firm had revenue of $858.00 million during the quarter, compared to analyst estimates of $850.67 million. KAR Auction Services had a return on equity of 21.46% and a net margin of 6.83%. KAR Auction Services’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. On average, equities analysts expect that KAR Auction Services will post $2.25 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “KAR Auction Services, Inc (KAR) Given Buy Rating at Jefferies Group LLC” was originally published by Ticker Report and is the sole property of of Ticker Report. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://www.tickerreport.com/banking-finance/2888564/kar-auction-services-inc-kar-given-buy-rating-at-jefferies-group-llc.html.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio is currently 78.53%.

In other news, COO Donald S. Gottwald sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.68, for a total transaction of $436,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Kett sold 10,008 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $42.06, for a total value of $420,936.48. Following the transaction, the chief executive officer now directly owns 58,941 shares of the company’s stock, valued at $2,479,058.46. The disclosure for this sale can be found here. Insiders have sold 30,039 shares of company stock valued at $1,279,186 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Large investors have recently bought and sold shares of the company. Archford Capital Strategies LLC grew its holdings in shares of KAR Auction Services by 832.0% during the second quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 832 shares during the last quarter. Acrospire Investment Management LLC bought a new position in shares of KAR Auction Services during the second quarter valued at approximately $118,000. Toronto Dominion Bank grew its holdings in shares of KAR Auction Services by 7.2% during the first quarter. Toronto Dominion Bank now owns 2,830 shares of the specialty retailer’s stock valued at $124,000 after purchasing an additional 190 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of KAR Auction Services by 378.4% during the first quarter. Tower Research Capital LLC TRC now owns 2,966 shares of the specialty retailer’s stock valued at $130,000 after purchasing an additional 2,346 shares during the last quarter. Finally, CENTRAL TRUST Co bought a new position in shares of KAR Auction Services during the second quarter valued at approximately $150,000. 99.95% of the stock is owned by institutional investors.

About KAR Auction Services

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).

Receive News & Ratings for KAR Auction Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.