KAR Auction Services (NYSE:KAR) received a $55.00 price target from investment analysts at Barrington Research in a research report issued on Sunday. The firm currently has a “buy” rating on the specialty retailer’s stock. Barrington Research’s target price indicates a potential upside of 6.94% from the stock’s previous close. Barrington Research also issued estimates for KAR Auction Services’ FY2018 earnings at $2.89 EPS, Q1 2019 earnings at $0.79 EPS, Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.72 EPS, Q4 2019 earnings at $0.80 EPS and FY2019 earnings at $3.17 EPS.
A number of other equities research analysts have also recently commented on the company. Robert W. Baird reiterated a “buy” rating and set a $58.00 target price on shares of KAR Auction Services in a research note on Friday. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Wednesday, February 7th. Stephens set a $57.00 price objective on KAR Auction Services and gave the stock a “hold” rating in a report on Wednesday, January 17th. Gabelli lowered KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $55.00.
KAR Auction Services (KAR) traded up $0.01 during midday trading on Friday, hitting $51.43. The stock had a trading volume of 185,619 shares, compared to its average volume of 842,799. The company has a market cap of $6,911.31, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.59 and a beta of 1.10. KAR Auction Services has a 12 month low of $40.27 and a 12 month high of $55.19. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.80.
In related news, EVP Lisa A. Price sold 6,563 shares of KAR Auction Services stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $54.05, for a total value of $354,730.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Partners grew its holdings in KAR Auction Services by 15.4% during the 3rd quarter. Boston Partners now owns 640,752 shares of the specialty retailer’s stock valued at $30,589,000 after buying an additional 85,676 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in KAR Auction Services by 88.9% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,477 shares of the specialty retailer’s stock valued at $262,000 after buying an additional 2,577 shares in the last quarter. K.J. Harrison & Partners Inc grew its holdings in KAR Auction Services by 3.9% during the 3rd quarter. K.J. Harrison & Partners Inc now owns 72,700 shares of the specialty retailer’s stock valued at $3,471,000 after buying an additional 2,700 shares in the last quarter. Hutchens Investment Management Inc purchased a new position in KAR Auction Services during the 4th quarter valued at about $252,000. Finally, Legal & General Group Plc grew its holdings in KAR Auction Services by 22.2% during the 3rd quarter. Legal & General Group Plc now owns 99,652 shares of the specialty retailer’s stock valued at $4,756,000 after buying an additional 18,100 shares in the last quarter. 97.65% of the stock is owned by institutional investors.
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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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