Karooooo Ltd. (NASDAQ:KARO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Karooooo Ltd. (NASDAQ:KARO) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $59.20.

Several equities research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating on shares of Karooooo in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Karooooo in a research report on Friday, April 24th. UBS Group dropped their price target on shares of Karooooo from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Wall Street Zen cut shares of Karooooo from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Roth Mkm reiterated a “buy” rating and issued a $68.00 price target on shares of Karooooo in a research report on Thursday, May 14th.

Hedge Funds Weigh In On Karooooo

A number of institutional investors have recently bought and sold shares of KARO. Geode Capital Management LLC increased its stake in Karooooo by 56.6% in the 2nd quarter. Geode Capital Management LLC now owns 29,892 shares of the company’s stock worth $1,464,000 after purchasing an additional 10,799 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Karooooo by 216.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,089 shares of the company’s stock valued at $396,000 after acquiring an additional 5,529 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Karooooo during the 2nd quarter valued at about $1,378,000. New York State Common Retirement Fund grew its stake in Karooooo by 465.6% during the 2nd quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock valued at $160,000 after acquiring an additional 2,682 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Karooooo during the 2nd quarter valued at about $156,000.

Karooooo Price Performance

Shares of NASDAQ KARO opened at $47.95 on Thursday. Karooooo has a fifty-two week low of $41.25 and a fifty-two week high of $60.53. The firm’s 50-day simple moving average is $48.40 and its 200 day simple moving average is $47.81. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.48 billion, a P/E ratio of 25.92 and a beta of 0.89.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $0.45 earnings per share for the quarter. Karooooo had a net margin of 18.07% and a return on equity of 31.26%. The business had revenue of $90.93 million for the quarter. Equities analysts expect that Karooooo will post 2.37 EPS for the current year.

Karooooo Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, July 27th. Investors of record on Friday, July 17th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a yield of 347.0%. This is an increase from Karooooo’s previous annual dividend of $1.25. Karooooo’s dividend payout ratio (DPR) is 67.57%.

Karooooo Company Profile

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.