KAR Auction Services (NYSE:KAR) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of KAR Auction Services (NYSE:KAR) from a strong sell rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “KAR Auction Services, Inc., through its subsidiaries, operates as a used vehicle and salvage auto auction company in North America. The company operates in three segments: ADESA, IAAI, and AFC. The ADESA segment provides whole car auctions and related services to commercial fleet operators, financial institutions, rental car companies, used vehicle dealers, vehicle manufacturers and their captive finance companies, and franchised and independent used vehicle dealers. This segment also provides value-added ancillary services, such as inspections, storage, transportation, reconditioning and titling, and other administrative services. The IAAI segment offers salvage vehicle auctions and related services. The AFC segment offers short-term and inventory-secured financing, known as floorplan financing, to independent used vehicle dealers. KAR Auction Services, Inc. is headquartered in Carmel, Indiana. “

Separately, TheStreet lowered shares of KAR Auction Services from a c- rating to a d rating in a report on Tuesday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $19.17.

KAR stock opened at $16.33 on Tuesday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 1,633.00, a PEG ratio of 0.65 and a beta of 1.42. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.25. KAR Auction Services has a 12-month low of $13.55 and a 12-month high of $20.06. The company’s fifty day simple moving average is $15.61 and its 200 day simple moving average is $16.16.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, November 2nd. The specialty retailer reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. KAR Auction Services had a net margin of 1.98% and a return on equity of 6.89%. The firm had revenue of $535.20 million for the quarter, compared to analyst estimates of $506.94 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. Research analysts expect that KAR Auction Services will post 0.73 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Paradice Investment Management LLC increased its position in shares of KAR Auction Services by 27.4% during the third quarter. Paradice Investment Management LLC now owns 5,154,207 shares of the specialty retailer’s stock worth $84,477,000 after acquiring an additional 1,108,428 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of KAR Auction Services by 19.8% during the second quarter. Envestnet Asset Management Inc. now owns 45,004 shares of the specialty retailer’s stock worth $790,000 after acquiring an additional 7,434 shares in the last quarter. Capital Fund Management S.A. increased its position in shares of KAR Auction Services by 403.9% during the second quarter. Capital Fund Management S.A. now owns 71,433 shares of the specialty retailer’s stock worth $1,254,000 after acquiring an additional 57,258 shares in the last quarter. Xponance Inc. increased its position in shares of KAR Auction Services by 37.7% during the second quarter. Xponance Inc. now owns 19,657 shares of the specialty retailer’s stock worth $345,000 after acquiring an additional 5,384 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in KAR Auction Services by 8.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 151,045 shares of the specialty retailer’s stock worth $2,651,000 after purchasing an additional 11,439 shares in the last quarter.

KAR Auction Services Company Profile

KAR Auction Services, Inc engages in the provision of used car auction services and salvage auction services in North America and the United Kingdom. It operates through the following segments: ADESA Auctions and Automotive Finance Corporation (AFC). The ADESA segment provides whole car auctions and related services to the vehicle remarketing industry in North America.

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