KAR Auction Services Inc (NYSE:KAR) insider Rebecca C. Polak sold 44,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $56.20, for a total value of $2,472,800.00. Following the completion of the transaction, the insider now owns 90,390 shares in the company, valued at approximately $5,079,918. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of KAR Auction Services Inc (KAR) opened at $55.91 on Wednesday. The company has a market capitalization of $7,543.03, a PE ratio of 22.72, a PEG ratio of 1.72 and a beta of 1.08. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.80. KAR Auction Services Inc has a 1 year low of $40.27 and a 1 year high of $56.75.
KAR Auction Services (NYSE:KAR) last released its quarterly earnings results on Tuesday, February 20th. The specialty retailer reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.10. The company had revenue of $890.40 million for the quarter, compared to analyst estimates of $882.22 million. KAR Auction Services had a return on equity of 23.61% and a net margin of 10.47%. KAR Auction Services’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. research analysts forecast that KAR Auction Services Inc will post 2.97 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new stake in shares of KAR Auction Services during the fourth quarter worth about $103,000. SG Americas Securities LLC acquired a new stake in shares of KAR Auction Services during the fourth quarter worth about $105,000. Cerebellum GP LLC acquired a new stake in shares of KAR Auction Services during the fourth quarter worth about $127,000. KBC Group NV raised its position in shares of KAR Auction Services by 81.5% during the third quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock worth $129,000 after purchasing an additional 1,211 shares during the period. Finally, Assetmark Inc. raised its position in shares of KAR Auction Services by 336.4% during the fourth quarter. Assetmark Inc. now owns 3,116 shares of the specialty retailer’s stock worth $157,000 after purchasing an additional 2,402 shares during the period. 98.88% of the stock is currently owned by institutional investors.
Several research firms have weighed in on KAR. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday, February 7th. Robert W. Baird reissued a “buy” rating and issued a $60.00 target price on shares of KAR Auction Services in a research note on Thursday, March 1st. Gabelli raised KAR Auction Services from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Stephens set a $57.00 target price on KAR Auction Services and gave the company a “hold” rating in a research note on Wednesday, January 17th. Finally, Barrington Research set a $55.00 target price on KAR Auction Services and gave the company a “buy” rating in a research note on Sunday, February 25th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $57.13.
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).
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