Karooooo (NASDAQ:KARO) Receives “Outperform” Rating from Raymond James

Karooooo (NASDAQ:KARO)‘s stock had its “outperform” rating reiterated by stock analysts at Raymond James in a note issued to investors on Thursday,Benzinga reports. They presently have a $51.00 target price on the stock, up from their previous target price of $46.00. Raymond James’ price objective indicates a potential upside of 15.25% from the company’s previous close.

Karooooo Stock Down 0.9 %

NASDAQ:KARO traded down $0.39 during mid-day trading on Thursday, reaching $44.25. The stock had a trading volume of 56,767 shares, compared to its average volume of 53,788. The business’s 50 day moving average is $44.83 and its 200 day moving average is $39.87. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. Karooooo has a fifty-two week low of $23.35 and a fifty-two week high of $50.54.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings results on Tuesday, January 14th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. Karooooo had a net margin of 19.29% and a return on equity of 29.39%. As a group, equities research analysts anticipate that Karooooo will post 1.61 EPS for the current fiscal year.

Institutional Trading of Karooooo

Large investors have recently made changes to their positions in the stock. Walleye Capital LLC bought a new position in shares of Karooooo in the 3rd quarter valued at approximately $323,000. Gladius Capital Management LP boosted its position in Karooooo by 124.2% during the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after purchasing an additional 8,041 shares during the period. Quadrature Capital Ltd acquired a new position in Karooooo during the third quarter valued at approximately $216,000. Renaissance Technologies LLC raised its position in shares of Karooooo by 23.3% in the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after purchasing an additional 3,356 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Karooooo by 50.6% in the second quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock worth $116,000 after buying an additional 1,377 shares during the last quarter.

About Karooooo

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.