Analysts Set Karooooo Ltd. (NASDAQ:KARO) Price Target at $73.50

Karooooo Ltd. (NASDAQ:KARO) has received an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $73.50.

Several equities research analysts recently issued reports on KARO shares. UBS Group reissued a “buy” rating and set a $75.00 price objective on shares of Karooooo in a research note on Thursday, July 16th. Needham & Company LLC raised their price target on Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Freedom Capital downgraded Karooooo from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Wall Street Zen raised Karooooo from a “hold” rating to a “buy” rating in a report on Monday, August 17th. Finally, Raymond James Financial upped their price objective on shares of Karooooo from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th.

Insider Transactions at Karooooo

In related news, CEO Isaias Calisto sold 33,833 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $66.14, for a total value of $2,237,714.62. Following the completion of the transaction, the chief executive officer directly owned 17,714,186 shares in the company, valued at approximately $1,171,616,262.04. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 277,617 shares of company stock valued at $17,840,247 in the last ninety days. 74.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Karooooo

A number of large investors have recently modified their holdings of KARO. Public Employees Retirement System of Ohio purchased a new stake in shares of Karooooo in the 2nd quarter valued at $54,000. Allworth Financial LP bought a new position in shares of Karooooo during the 2nd quarter valued at $64,000. Fideuram Asset Management Ireland dac purchased a new position in Karooooo in the 4th quarter worth $80,000. R Squared Ltd purchased a new position in Karooooo in the 1st quarter worth $296,000. Finally, DGS Capital Management LLC boosted its position in Karooooo by 83.5% during the fourth quarter. DGS Capital Management LLC now owns 6,961 shares of the company’s stock valued at $317,000 after buying an additional 3,168 shares during the period.

Karooooo Trading Up 3.8%

Shares of Karooooo stock opened at $67.23 on Tuesday. The company’s 50-day moving average price is $63.28 and its 200-day moving average price is $53.71. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15. Karooooo has a 12-month low of $41.25 and a 12-month high of $68.80. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 34.13 and a beta of 0.89.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Thursday, July 16th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $96.26 million during the quarter. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. On average, equities analysts expect that Karooooo will post 2.41 earnings per share for the current fiscal year.

Karooooo Company Profile

Karooooo Ltd. is a technology company that provides connected-vehicle and mobility solutions through its Cartrack platform. Its software helps businesses and consumers monitor vehicles, manage fleets, improve driver safety, track assets and use telematics data to support operational decision-making.

Cartrack’s products and services include vehicle tracking and recovery, fleet management, GPS navigation, driver behavior monitoring, vehicle and asset monitoring, fleet maintenance tools, and reporting and analytics.