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. “
KAR has been the topic of several other reports. Jefferies Financial Group lowered KAR Auction Services from a buy rating to a hold rating and set a $24.00 price objective on the stock. in a research report on Friday, January 10th. CJS Securities lowered KAR Auction Services from an outperform rating to a market perform rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. KAR Auction Services presently has a consensus rating of Hold and a consensus price target of $28.25.
KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04). KAR Auction Services had a net margin of 6.00% and a return on equity of 12.57%. The company had revenue of $671.30 million during the quarter, compared to analysts’ expectations of $658.13 million. Equities analysts anticipate that KAR Auction Services will post 1.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 20th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $0.76 annualized dividend and a dividend yield of 3.42%. KAR Auction Services’s dividend payout ratio is presently 73.08%.
Several institutional investors have recently made changes to their positions in KAR. Parkside Financial Bank & Trust grew its stake in KAR Auction Services by 78.8% in the third quarter. Parkside Financial Bank & Trust now owns 1,450 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 639 shares in the last quarter. Advisory Services Network LLC grew its stake in KAR Auction Services by 162.3% in the fourth quarter. Advisory Services Network LLC now owns 1,592 shares of the specialty retailer’s stock worth $34,000 after purchasing an additional 985 shares in the last quarter. CFM Wealth Partners LLC acquired a new position in KAR Auction Services in the fourth quarter worth about $37,000. Crewe Advisors LLC grew its stake in KAR Auction Services by 114.9% in the third quarter. Crewe Advisors LLC now owns 1,870 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 1,000 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in KAR Auction Services by 96.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,060 shares of the specialty retailer’s stock worth $44,000 after purchasing an additional 1,013 shares in the last quarter.
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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