Karooooo’s (KARO) “Outperform” Rating Reaffirmed at Raymond James

Karooooo (NASDAQ:KARO)‘s stock had its “outperform” rating reaffirmed by equities researchers at Raymond James in a research note issued on Thursday,Benzinga reports. They presently have a $51.00 target price on the stock, up from their previous target price of $46.00. Raymond James’ target price indicates a potential upside of 15.25% from the company’s current price.

Karooooo Stock Performance

Shares of KARO traded down $0.39 during midday trading on Thursday, hitting $44.25. The stock had a trading volume of 56,767 shares, compared to its average volume of 53,788. The business has a 50-day simple moving average of $44.83 and a two-hundred day simple moving average of $39.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.18. Karooooo has a fifty-two week low of $23.35 and a fifty-two week high of $50.54.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a net margin of 19.29% and a return on equity of 29.39%. Equities analysts expect that Karooooo will post 1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Acadian Asset Management LLC grew its stake in Karooooo by 50.6% during the 2nd quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock valued at $116,000 after acquiring an additional 1,377 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after purchasing an additional 3,356 shares during the period. Quadrature Capital Ltd purchased a new position in Karooooo during the third quarter valued at approximately $216,000. Gladius Capital Management LP increased its stake in Karooooo by 124.2% in the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after buying an additional 8,041 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Karooooo in the 3rd quarter worth approximately $323,000.

About Karooooo

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.