CJS Securities cut shares of KAR Auction Services (NYSE:KAR) from an outperform rating to a market perform rating in a report issued on Thursday morning, Briefing.com Automated Import reports.
Several other equities analysts have also issued reports on KAR. ValuEngine raised KAR Auction Services from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised KAR Auction Services from a hold rating to a buy rating and set a $28.00 target price on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. KAR Auction Services currently has a consensus rating of Hold and a consensus target price of $33.58.
Shares of KAR Auction Services 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. KAR Auction Services has a twelve month low of $16.41 and a twelve month high of $28.61. The firm has a fifty day moving average of $24.56 and a 200-day moving average of $36.11. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 7.26, a P/E/G ratio of 1.43 and a beta of 1.06. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.14 and a current ratio of 1.14.
KAR Auction Services (NYSE:KAR) last announced its quarterly 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). KAR Auction Services had a net margin of 6.95% and a return on equity of 16.83%. The business had revenue of $701.90 million during the quarter, compared to analyst estimates of $697.46 million. During the same period last year, the company earned $0.70 EPS. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, sell-side analysts expect that KAR Auction Services will post 1.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 20th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, December 19th. KAR Auction Services’s payout ratio is 25.68%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Goelzer Investment Management Inc. raised its position in KAR Auction Services by 5.4% in the 3rd quarter. Goelzer Investment Management Inc. now owns 52,807 shares of the specialty retailer’s stock valued at $1,296,000 after purchasing an additional 2,686 shares in the last quarter. Provident Investment Management Inc. raised its position in KAR Auction Services by 19.2% in the 3rd quarter. Provident Investment Management Inc. now owns 689,624 shares of the specialty retailer’s stock valued at $16,930,000 after purchasing an additional 111,239 shares in the last quarter. Northwestern Mutual Investment Management Company LLC acquired a new stake in KAR Auction Services in the 3rd quarter valued at about $934,000. Great Lakes Advisors LLC acquired a new stake in KAR Auction Services in the 3rd quarter valued at about $1,736,000. Finally, Systematic Financial Management LP acquired a new stake in KAR Auction Services in the 3rd quarter valued at about $554,000. 99.42% of the stock is currently owned by hedge funds and other institutional investors.
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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