CJS Securities downgraded shares of KAR Auction Services (NYSE:KAR) from an outperform rating to a market perform rating in a research report report published on Thursday morning, Briefing.com Automated Import reports.
A number of other research firms also recently commented on KAR. Zacks Investment Research raised KAR Auction Services from a hold rating to a buy rating and set a $28.00 target price for the company in a 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $33.58.
Shares of KAR Auction Services stock traded down $0.17 on Thursday, reaching $21.50. 2,504,173 shares of the stock were exchanged, compared to its average volume of 3,615,075. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.00. KAR Auction Services has a twelve month low of $16.41 and a twelve month high of $28.61. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 1.43 and a beta of 1.06. The business has a 50 day moving average price of $24.56 and a two-hundred day moving average price of $36.11.
KAR Auction Services (NYSE:KAR) last released its earnings results on Tuesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). KAR Auction Services had a return on equity of 16.83% and a net margin of 6.95%. The firm had revenue of $701.90 million for the quarter, compared to analyst estimates of $697.46 million. During the same period last year, the firm earned $0.70 EPS. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. Research analysts forecast that KAR Auction Services will post 1.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Thursday, December 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 25.68%.
Institutional investors have recently bought and sold shares of the company. Arlington Partners LLC increased its position in shares of KAR Auction Services by 64.7% in the third quarter. Arlington Partners LLC now owns 1,400 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 550 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of KAR Auction Services by 78.8% in the third quarter. Parkside Financial Bank & Trust now owns 1,450 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 639 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of KAR Auction Services in the second quarter valued at approximately $42,000. Crewe Advisors LLC increased its position in shares of KAR Auction Services by 114.9% in the third quarter. Crewe Advisors LLC now owns 1,870 shares of the specialty retailer’s stock valued at $46,000 after buying an additional 1,000 shares in the last quarter. Finally, Baskin Financial Services Inc. purchased a new stake in shares of KAR Auction Services in the second quarter valued at approximately $260,000. Institutional investors and hedge funds own 99.42% of the company’s stock.
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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