Karooooo Ltd. (NASDAQ:KARO) Given Consensus Rating of “Moderate Buy” by Analysts

Karooooo Ltd. (NASDAQ:KARO) has received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $60.75.

A number of analysts have weighed in on KARO shares. Needham & Company LLC restated a “buy” rating on shares of Karooooo in a research note on Wednesday, June 3rd. Roth Mkm reaffirmed a “buy” rating and issued a $68.00 target price on shares of Karooooo in a report on Thursday, May 14th. UBS Group dropped their target price on shares of Karooooo from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Wall Street Zen cut shares of Karooooo from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Karooooo in a research report on Friday, April 24th.

Karooooo Trading Up 2.5%

NASDAQ KARO opened at $50.60 on Thursday. Karooooo has a 12 month low of $41.25 and a 12 month high of $60.53. The stock has a market cap of $1.56 billion, a P/E ratio of 27.35 and a beta of 0.89. The stock’s fifty day moving average price is $48.18 and its 200-day moving average price is $47.89. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.17.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $0.45 earnings per share for the quarter. The firm had revenue of $90.93 million during the quarter. Karooooo had a return on equity of 31.26% and a net margin of 18.07%. As a group, equities analysts forecast that Karooooo will post 2.37 EPS for the current fiscal year.

Karooooo Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, July 17th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, July 17th. This represents a yield of 347.0%. This is a positive change from Karooooo’s previous annual dividend of $1.25. Karooooo’s dividend payout ratio (DPR) is 67.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Capricorn Fund Managers Ltd boosted its position in shares of Karooooo by 39.4% during the fourth quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock valued at $10,833,000 after buying an additional 67,322 shares during the last quarter. Marshall Wace LLP increased its holdings in Karooooo by 699.1% in the 2nd quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock worth $2,723,000 after buying an additional 48,644 shares in the last quarter. Two Sigma Investments LP raised its position in Karooooo by 115.4% in the 3rd quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock worth $4,234,000 after buying an additional 39,709 shares during the last quarter. Aurora Investment Counsel purchased a new position in Karooooo in the 4th quarter worth about $1,651,000. Finally, Russell Investments Group Ltd. bought a new position in Karooooo during the 2nd quarter valued at about $1,378,000.

About Karooooo

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.