Strs Ohio lessened its stake in shares of KAR Auction Services Inc (NYSE:KAR) by 18.6% in the 1st quarter, Holdings Channel reports. The firm owned 6,599 shares of the specialty retailer’s stock after selling 1,506 shares during the period. Strs Ohio’s holdings in KAR Auction Services were worth $338,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brookstone Capital Management purchased a new stake in KAR Auction Services during the 1st quarter valued at about $529,000. Aurora Investment Counsel grew its stake in KAR Auction Services by 1.1% during the 1st quarter. Aurora Investment Counsel now owns 48,239 shares of the specialty retailer’s stock valued at $2,475,000 after acquiring an additional 520 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in KAR Auction Services during the 1st quarter valued at about $403,000. Kirr Marbach & Co. LLC IN grew its stake in KAR Auction Services by 2.1% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 160,997 shares of the specialty retailer’s stock valued at $8,261,000 after acquiring an additional 3,282 shares in the last quarter. Finally, Raymond James Trust N.A. grew its stake in KAR Auction Services by 27.9% during the 1st quarter. Raymond James Trust N.A. now owns 15,754 shares of the specialty retailer’s stock valued at $808,000 after acquiring an additional 3,437 shares in the last quarter.
KAR Auction Services stock opened at $55.48 on Friday. KAR Auction Services Inc has a 1-year low of $43.32 and a 1-year high of $64.55. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.17 and a quick ratio of 1.26. The company has a market capitalization of $7.33 billion, a PE ratio of 19.36, a PEG ratio of 1.81 and a beta of 1.14.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, May 7th. The specialty retailer reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). KAR Auction Services had a net margin of 8.17% and a return on equity of 25.43%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the company earned $0.82 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts forecast that KAR Auction Services Inc will post 2.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.40 annualized dividend and a dividend yield of 2.52%. KAR Auction Services’s dividend payout ratio (DPR) is 47.30%.
Several analysts recently issued reports on the stock. Barrington Research reaffirmed a “buy” rating and set a $62.50 price objective on shares of KAR Auction Services in a research note on Friday, May 3rd. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $56.00 price objective on shares of KAR Auction Services in a research note on Wednesday, February 20th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. KAR Auction Services currently has an average rating of “Buy” and an average price target of $61.50.
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About KAR Auction Services
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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