Shares of KAR Auction Services Inc (NYSE:KAR) have received a consensus recommendation of “Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $61.00.
KAR has been the topic of several recent research reports. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. ValuEngine raised shares of KAR Auction Services from a “hold” rating to a “buy” rating in a research report on Wednesday, November 21st. SunTrust Banks cut their price objective on shares of KAR Auction Services to $65.00 and set a “buy” rating on the stock in a research report on Monday, January 7th. Barrington Research reaffirmed a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, February 20th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $56.00 price objective on shares of KAR Auction Services in a research report on Wednesday, February 20th.
A number of institutional investors and hedge funds have recently modified their holdings of KAR. Boston Partners raised its position in KAR Auction Services by 98.1% during the fourth quarter. Boston Partners now owns 5,470,361 shares of the specialty retailer’s stock valued at $261,045,000 after acquiring an additional 2,708,310 shares in the last quarter. Norges Bank acquired a new position in KAR Auction Services during the fourth quarter valued at approximately $58,745,000. First Manhattan Co. grew its holdings in KAR Auction Services by 49.2% during the fourth quarter. First Manhattan Co. now owns 1,995,232 shares of the specialty retailer’s stock valued at $95,212,000 after purchasing an additional 658,251 shares during the last quarter. BlackRock Inc. grew its holdings in KAR Auction Services by 6.1% during the third quarter. BlackRock Inc. now owns 7,967,066 shares of the specialty retailer’s stock valued at $475,555,000 after purchasing an additional 460,114 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in KAR Auction Services during the third quarter valued at approximately $24,094,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
NYSE KAR opened at $48.95 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $6.46 billion, a PE ratio of 16.54, a P/E/G ratio of 1.56 and a beta of 1.10. KAR Auction Services has a 52-week low of $43.32 and a 52-week high of $64.55.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, February 19th. The specialty retailer reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $929.00 million during the quarter, compared to analyst estimates of $936.37 million. KAR Auction Services had a net margin of 8.70% and a return on equity of 26.46%. Sell-side analysts predict that KAR Auction Services will post 2.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Friday, March 22nd will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, March 21st. KAR Auction Services’s payout ratio is presently 47.30%.
KAR Auction Services Company Profile
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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