Karooooo Ltd. (NASDAQ:KARO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Karooooo Ltd. (NASDAQ:KARO) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $73.50.

A number of research firms recently issued reports on KARO. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. Roth Capital reissued a “buy” rating and set a $74.00 price objective on shares of Karooooo in a report on Friday, July 17th. Wall Street Zen cut shares of Karooooo from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Zacks Research downgraded shares of Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, UBS Group reiterated a “buy” rating and set a $75.00 target price on shares of Karooooo in a research report on Thursday, July 16th.

Karooooo Trading Up 1.8%

KARO stock opened at $63.89 on Friday. The business has a fifty day moving average price of $56.29 and a 200 day moving average price of $51.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01. Karooooo has a fifty-two week low of $41.25 and a fifty-two week high of $67.14. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 32.43 and a beta of 0.85.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings data on Thursday, July 16th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $96.26 million for the quarter. Karooooo had a return on equity of 32.03% and a net margin of 17.74%. Analysts expect that Karooooo will post 2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Karooooo news, CEO Isaias Jose Calisto sold 33,833 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $66.14, for a total transaction of $2,237,714.62. Following the transaction, the chief executive officer owned 17,714,186 shares of the company’s stock, valued at approximately $1,171,616,262.04. This represents a 0.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 257,842 shares of company stock valued at $16,585,553. Insiders own 74.73% of the company’s stock.

Institutional Investors Weigh In On Karooooo

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fideuram Asset Management Ireland dac bought a new stake in shares of Karooooo during the fourth quarter worth $80,000. Royal Bank of Canada boosted its holdings in Karooooo by 852.9% in the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock valued at $135,000 after acquiring an additional 2,644 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Karooooo in the second quarter worth about $156,000. New York State Common Retirement Fund increased its position in Karooooo by 465.6% in the second quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock worth $160,000 after purchasing an additional 2,682 shares during the period. Finally, State of Tennessee Department of Treasury bought a new stake in Karooooo during the 2nd quarter worth about $214,000.

Karooooo Company Profile

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.