Gabelli lowered shares of KAR Auction Services, Inc (NYSE:KAR) from a buy rating to a hold rating in a research note published on Thursday, November 2nd, MarketBeat reports. They currently have $53.00 price objective on the specialty retailer’s stock.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of KAR Auction Services from a sell rating to a hold rating in a research report on Friday, August 11th. BidaskClub lowered shares of KAR Auction Services from a sell rating to a strong sell rating in a report on Wednesday, July 12th. J P Morgan Chase & Co lifted their price objective on shares of KAR Auction Services from $52.00 to $55.00 and gave the company an overweight rating in a research report on Monday, October 30th. Jefferies Group LLC restated a buy rating and set a $50.00 price target on shares of KAR Auction Services in a research report on Tuesday, September 12th. Finally, Stephens cut shares of KAR Auction Services from an overweight rating to an equal weight rating and lowered their price objective for the stock from $51.00 to $48.00 in a research note on Thursday, September 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. KAR Auction Services has an average rating of Buy and an average target price of $52.20.
Shares of KAR Auction Services (KAR) traded down $0.11 during trading hours on Thursday, hitting $48.14. 871,600 shares of the stock were exchanged, compared to its average volume of 958,005. KAR Auction Services has a 1-year low of $39.70 and a 1-year high of $49.38. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $6,526.53, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.52 and a beta of 1.08.
KAR Auction Services (NYSE:KAR) last issued its earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.37%. The company had revenue of $843.00 million for the quarter, compared to analyst estimates of $846.42 million. During the same period in the prior year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. equities research analysts forecast that KAR Auction Services will post 2.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.91%. This is a boost from KAR Auction Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, December 19th. KAR Auction Services’s payout ratio is presently 75.29%.
A number of institutional investors have recently made changes to their positions in KAR. Archford Capital Strategies LLC increased its holdings in KAR Auction Services by 832.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 832 shares during the period. Acrospire Investment Management LLC acquired a new position in KAR Auction Services during the 2nd quarter worth about $118,000. KBC Group NV lifted its position in KAR Auction Services by 81.5% during the 3rd quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock worth $129,000 after buying an additional 1,211 shares in the last quarter. CENTRAL TRUST Co acquired a new position in KAR Auction Services during the 2nd quarter valued at about $150,000. Finally, SG Americas Securities LLC acquired a new position in KAR Auction Services during the 1st quarter valued at about $162,000.
KAR Auction Services Company Profile
KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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