KAR Auction Services (NYSE:KAR) has been given a $57.00 price objective by research analysts at Stephens in a report released on Wednesday. The firm currently has a “hold” rating on the specialty retailer’s stock. Stephens’ price target indicates a potential upside of 6.54% from the company’s previous close.
Several other research firms have also recently weighed in on KAR. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, January 11th. Gabelli cut KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. raised their price target on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $54.60.
KAR Auction Services (NYSE KAR) traded up $0.15 during midday trading on Wednesday, reaching $53.50. The company’s stock had a trading volume of 646,400 shares, compared to its average volume of 739,942. The stock has a market cap of $7,216.38, a PE ratio of 31.47, a PEG ratio of 1.53 and a beta of 1.08. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.35. KAR Auction Services has a fifty-two week low of $40.27 and a fifty-two week high of $53.84.
In other news, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $48.14, for a total value of $481,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Benjamin Skuy sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $48.50, for a total value of $582,000.00. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock valued at $1,575,200 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds have recently modified their holdings of KAR. Archford Capital Strategies LLC lifted its stake in shares of KAR Auction Services by 832.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock worth $103,000 after acquiring an additional 832 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of KAR Auction Services during the 2nd quarter worth approximately $118,000. KBC Group NV lifted its stake in shares of 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 acquiring an additional 1,211 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of KAR Auction Services by 105.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock worth $171,000 after acquiring an additional 2,087 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of KAR Auction Services by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,210 shares of the specialty retailer’s stock worth $177,000 after acquiring an additional 363 shares during the last quarter. 99.22% of the stock is owned by hedge funds and other institutional investors.
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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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