CJS Securities lowered shares of KAR Auction Services (NYSE:KAR) from an outperform rating to a market perform rating in a research report sent to investors on Thursday morning, Briefing.com Automated Import reports.
Other analysts also recently issued reports about the stock. ValuEngine raised shares of KAR Auction Services from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of KAR Auction Services from a hold rating to a buy rating and set a $28.00 target price for the company in a research report on Tuesday, November 5th. One equities research 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. KAR Auction Services has a consensus rating of Hold and an average price target of $33.58.
KAR stock traded down $0.17 during trading hours on Thursday, hitting $21.50. The company’s stock had a trading volume of 2,504,173 shares, 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. The company has a market capitalization of $2.86 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.06. KAR Auction Services has a 12 month low of $16.41 and a 12 month high of $28.61. The stock 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 posted its earnings results on Tuesday, November 5th. The specialty retailer reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04). The business had revenue of $701.90 million during the quarter, compared to the consensus estimate of $697.46 million. KAR Auction Services had a return on equity of 16.83% and a net margin of 6.95%. The business’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. Sell-side analysts expect that KAR Auction Services will post 1.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Thursday, December 19th. KAR Auction Services’s dividend payout ratio is currently 25.68%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of KAR Auction Services by 42.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,664,232 shares of the specialty retailer’s stock worth $141,606,000 after buying an additional 1,676,914 shares during the period. Maverick Capital Ltd. bought a new stake in shares of KAR Auction Services during the 2nd quarter worth $126,648,000. Mawer Investment Management Ltd. boosted its holdings in shares of KAR Auction Services by 7.9% during the 2nd quarter. Mawer Investment Management Ltd. now owns 3,978,332 shares of the specialty retailer’s stock worth $99,458,000 after buying an additional 290,995 shares during the period. First Manhattan Co. boosted its holdings in shares of KAR Auction Services by 21.9% during the 2nd quarter. First Manhattan Co. now owns 3,974,262 shares of the specialty retailer’s stock worth $99,356,000 after buying an additional 712,743 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of KAR Auction Services by 44.5% during the 2nd quarter. Janus Henderson Group PLC now owns 3,416,468 shares of the specialty retailer’s stock worth $85,412,000 after buying an additional 1,052,915 shares during the period. 99.42% of the stock is owned by institutional investors and hedge funds.
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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