KAR Auction Services (NYSE:KAR) Downgraded to “Market Perform” at CJS Securities

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KAR Auction Services (NYSE:KAR) was downgraded by equities researchers at CJS Securities from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, Briefing.com Automated Import reports.

KAR has been the topic of a number of other reports. Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, November 5th. ValuEngine raised KAR Auction Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $33.58.

Shares of KAR traded down $0.17 during mid-day trading on Thursday, reaching $21.50. 2,504,173 shares of the company’s stock were exchanged, compared to its average volume of 3,615,075. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $2.86 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.06. The business’s fifty day simple moving average is $24.56 and its 200-day simple moving average is $36.11. KAR Auction Services has a 52-week low of $16.41 and a 52-week high of $28.61.

KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The business had revenue of $701.90 million for the quarter, compared to analysts’ expectations of $697.46 million. KAR Auction Services had a return on equity of 16.83% and a net margin of 6.95%. The business’s revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. Equities research analysts predict that KAR Auction Services will post 1.16 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of KAR. WINTON GROUP Ltd lifted its holdings in shares of KAR Auction Services by 82.9% during the second quarter. WINTON GROUP Ltd now owns 12,023 shares of the specialty retailer’s stock worth $301,000 after purchasing an additional 5,450 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of KAR Auction Services by 6.3% during the second quarter. Valeo Financial Advisors LLC now owns 9,464 shares of the specialty retailer’s stock worth $264,000 after purchasing an additional 565 shares during the period. First Hawaiian Bank lifted its holdings in shares of KAR Auction Services by 113.1% during the second quarter. First Hawaiian Bank now owns 21,187 shares of the specialty retailer’s stock worth $530,000 after purchasing an additional 11,244 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of KAR Auction Services by 8.3% during the second quarter. Raymond James Trust N.A. now owns 17,069 shares of the specialty retailer’s stock worth $426,000 after purchasing an additional 1,315 shares during the period. Finally, Clear Street Markets LLC acquired a new stake in shares of KAR Auction Services during the second quarter worth $1,366,000. 99.42% of the stock is owned by hedge funds and other institutional investors.

KAR Auction Services Company Profile

KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

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Analyst Recommendations for KAR Auction Services (NYSE:KAR)

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