Karooooo (NASDAQ:KARO) Reaches New 1-Year High at $27.10

Karooooo Ltd. (NASDAQ:KARO) reached a new 52-week high during trading on Monday . The company traded as high as $27.10 and last traded at $27.09, with a volume of 5803 shares. The stock had previously closed at $27.09.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KARO shares. Raymond James upped their price target on shares of Karooooo from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of Karooooo in a research note on Monday.

Karooooo Stock Up 1.0 %

The business’s 50 day moving average is $25.66 and its 200 day moving average is $24.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.38 and a quick ratio of 1.34.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings results on Monday, January 22nd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Karooooo had a net margin of 16.67% and a return on equity of 25.26%. The company had revenue of $57.36 million during the quarter, compared to analyst estimates of $51.99 million. As a group, equities research analysts forecast that Karooooo Ltd. will post 1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Karooooo

Several institutional investors have recently made changes to their positions in the company. Jupiter Asset Management Ltd. increased its holdings in shares of Karooooo by 17.9% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 196,873 shares of the company’s stock valued at $3,920,000 after purchasing an additional 29,849 shares in the last quarter. Gladius Capital Management LP increased its holdings in Karooooo by 7.9% in the 3rd quarter. Gladius Capital Management LP now owns 6,197 shares of the company’s stock worth $123,000 after acquiring an additional 454 shares in the last quarter. Finally, Barclays PLC increased its holdings in Karooooo by 430.5% in the 2nd quarter. Barclays PLC now owns 4,546 shares of the company’s stock worth $106,000 after acquiring an additional 3,689 shares in the last quarter.

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.