Shares of KAR Auction Services Inc (NYSE:KAR) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $64.60.
Several equities analysts recently weighed in on the stock. Stephens reaffirmed a “hold” rating and set a $60.00 price objective on shares of KAR Auction Services in a research report on Thursday, August 9th. Robert W. Baird raised their price objective on shares of KAR Auction Services from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, August 9th. Zacks Investment Research lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Gabelli lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. They noted that the move was a valuation call. Finally, SunTrust Banks set a $70.00 price objective on shares of KAR Auction Services and gave the stock a “buy” rating in a research note on Thursday, August 9th.
In other KAR Auction Services news, insider Rebecca C. Polak sold 44,240 shares of KAR Auction Services stock in a transaction on Monday, July 16th. The shares were sold at an average price of $59.89, for a total transaction of $2,649,533.60. Following the sale, the insider now owns 90,630 shares in the company, valued at $5,427,830.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James E. Money II sold 32,000 shares of KAR Auction Services stock in a transaction on Monday, August 20th. The shares were sold at an average price of $62.57, for a total value of $2,002,240.00. Following the transaction, the insider now directly owns 25,619 shares of the company’s stock, valued at $1,602,980.83. The disclosure for this sale can be found here. Insiders have sold 340,749 shares of company stock worth $21,061,615 in the last quarter. Corporate insiders own 1.29% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Townsend & Associates Inc bought a new position in shares of KAR Auction Services during the second quarter valued at $120,000. Bruderman Asset Management LLC bought a new position in shares of KAR Auction Services during the second quarter valued at $121,000. Tower Research Capital LLC TRC lifted its holdings in shares of KAR Auction Services by 1,334.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,199 shares of the specialty retailer’s stock valued at $175,000 after acquiring an additional 2,976 shares during the period. Mutual Advisors LLC bought a new position in shares of KAR Auction Services during the second quarter valued at $215,000. Finally, Mission Wealth Management LP bought a new position in shares of KAR Auction Services in the second quarter valued at about $230,000. 99.73% of the stock is owned by institutional investors.
KAR traded down $0.66 during midday trading on Friday, hitting $59.70. 680,800 shares of the company’s stock traded hands, compared to its average volume of 895,608. The firm has a market cap of $8.17 billion, a PE ratio of 23.87, a PEG ratio of 1.82 and a beta of 1.13. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.31 and a current ratio of 1.31. KAR Auction Services has a one year low of $46.50 and a one year high of $64.55.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, August 7th. The specialty retailer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.02. The firm had revenue of $956.60 million for the quarter, compared to analyst estimates of $923.01 million. KAR Auction Services had a net margin of 11.50% and a return on equity of 26.15%. sell-side analysts anticipate that KAR Auction Services will post 3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Thursday, September 20th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, September 19th. This represents a $1.40 dividend on an annualized basis and a yield of 2.35%. KAR Auction Services’s dividend payout ratio is currently 56.00%.
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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