Shares of KAR Auction Services Inc (NYSE:KAR) have earned a consensus recommendation of “Buy” from the nine analysts that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $48.33.
Several equities analysts recently weighed in on KAR shares. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Tuesday, January 10th. Wolfe Research started coverage on shares of KAR Auction Services in a research note on Thursday, March 2nd. They set an “outperform” rating for the company. Finally, Gabelli started coverage on shares of KAR Auction Services in a research note on Friday, April 7th. They issued a “buy” rating for the company.
Shares of KAR Auction Services (NYSE:KAR) remained flat at $43.50 during trading on Tuesday. The company had a trading volume of 293,708 shares. KAR Auction Services has a 12-month low of $35.68 and a 12-month high of $47.03. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 27.19 and a beta of 1.35. The company has a 50 day moving average of $43.75 and a 200 day moving average of $43.49.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, February 21st. The specialty retailer reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.03. The firm had revenue of $813.70 million for the quarter, compared to the consensus estimate of $786.70 million. KAR Auction Services had a net margin of 7.58% and a return on equity of 19.45%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. Analysts anticipate that KAR Auction Services will post $2.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 4th. Stockholders of record on Wednesday, March 22nd were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, March 20th. This represents a $1.28 annualized dividend and a dividend yield of 2.94%. KAR Auction Services’s dividend payout ratio (DPR) is presently 79.01%.
In other news, EVP Benjamin Skuy sold 15,040 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $44.98, for a total value of $676,499.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Kett sold 8,321 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $43.36, for a total transaction of $360,798.56. Following the completion of the sale, the chief executive officer now owns 35,966 shares of the company’s stock, valued at approximately $1,559,485.76. The disclosure for this sale can be found here. Insiders sold a total of 49,961 shares of company stock valued at $2,219,668 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of KAR Auction Services by 178.6% in the third quarter. PNC Financial Services Group Inc. now owns 2,385 shares of the specialty retailer’s stock worth $104,000 after buying an additional 1,529 shares during the last quarter. TLP Group LLC bought a new stake in shares of KAR Auction Services during the third quarter worth $126,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of KAR Auction Services by 13.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,275 shares of the specialty retailer’s stock worth $185,000 after buying an additional 518 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in KAR Auction Services by 416.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,281 shares of the specialty retailer’s stock valued at $183,000 after buying an additional 3,452 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in KAR Auction Services by 7.4% in the third quarter. Pacer Advisors Inc. now owns 4,458 shares of the specialty retailer’s stock valued at $192,000 after buying an additional 308 shares in the last quarter.
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KAR Auction Services Company Profile
KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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