Karooooo Ltd. (NASDAQ:KARO) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Karooooo Ltd. (NASDAQ:KARO) have been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $72.80.

A number of brokerages have issued reports on KARO. Freedom Broker boosted their price target on Karooooo from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, October 22nd. Wall Street Zen lowered Karooooo from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of Karooooo in a research note on Tuesday, October 20th. Freedom Capital downgraded shares of Karooooo from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, Needham & Company LLC upped their price objective on shares of Karooooo from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th.

Karooooo Stock Performance

Shares of KARO stock opened at $64.04 on Wednesday. Karooooo has a 12-month low of $41.25 and a 12-month high of $68.80. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 30.64 and a beta of 0.81. The business has a 50 day simple moving average of $63.71 and a 200 day simple moving average of $54.65.

Insider Buying and Selling at Karooooo

In other news, CEO Isaias Calisto sold 6,202 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $63.50, for a total value of $393,827.00. Following the completion of the sale, the chief executive officer directly owned 17,640,700 shares of the company’s stock, valued at approximately $1,120,184,450. This represents a 0.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 73,845 shares of company stock valued at $4,690,606. Corporate insiders own 74.73% of the company’s stock.

Institutional Investors Weigh In On Karooooo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Putney Financial Group LLC bought a new position in Karooooo during the 3rd quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Karooooo during the 3rd quarter valued at $217,000. Vest Financial LLC raised its stake in shares of Karooooo by 96.9% in the 3rd quarter. Vest Financial LLC now owns 12,109 shares of the company’s stock worth $727,000 after buying an additional 5,960 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Karooooo in the 2nd quarter worth $518,000. Finally, Allworth Financial LP bought a new stake in shares of Karooooo in the 2nd quarter worth $64,000.

Karooooo Company Profile

Karooooo Ltd. is a Singapore-based technology company that provides connected-vehicle and mobility solutions through its Cartrack business. Its cloud-based platform uses telematics, vehicle tracking and data analytics to help businesses monitor vehicles and assets, improve fleet operations, manage driver behavior and enhance safety.

The company’s products and services include real-time vehicle location and monitoring, fleet management, stolen-vehicle recovery, vehicle and asset tracking, maintenance and fuel-management tools, and workflow solutions.