Karooooo (NASDAQ:KARO) Reaches New 52-Week High at $42.43

Karooooo Ltd. (NASDAQ:KARO)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $42.43 and last traded at $42.43, with a volume of 37172 shares traded. The stock had previously closed at $39.62.

Analysts Set New Price Targets

Separately, Morgan Stanley upped their price target on shares of Karooooo from $31.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th.

Karooooo Trading Up 4.1 %

The stock has a 50-day simple moving average of $35.86 and a 200 day simple moving average of $30.92. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.05. The company has a market cap of $881.50 million, a price-to-earnings ratio of 33.80 and a beta of 1.01.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Thursday, July 18th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. The firm had revenue of $58.29 million during the quarter, compared to analysts’ expectations of $58.54 million. Karooooo had a return on equity of 27.88% and a net margin of 18.70%. As a group, equities research analysts predict that Karooooo Ltd. will post 1.48 EPS for the current fiscal year.

Karooooo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were given a dividend of $1.08 per share. The ex-dividend date was Thursday, August 8th. This is an increase from Karooooo’s previous quarterly dividend of $0.85. This represents a $4.32 dividend on an annualized basis and a yield of 10.48%. Karooooo’s payout ratio is currently 340.16%.

Institutional Trading of Karooooo

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in Karooooo in the first quarter valued at approximately $67,000. Renaissance Technologies LLC boosted its holdings in 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 buying an additional 3,356 shares in the last quarter. Swedbank AB acquired a new stake in Karooooo during the first quarter valued at $2,387,000. Schwarz Dygos Wheeler Investment Advisors LLC boosted its stake in shares of Karooooo by 1.2% during the 2nd quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 175,349 shares of the company’s stock worth $5,138,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in shares of Karooooo by 2.6% in the 1st quarter. Jupiter Asset Management Ltd. now owns 198,392 shares of the company’s stock valued at $4,972,000 after purchasing an additional 5,002 shares in the last quarter.

Karooooo Company Profile

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.