KAR Auction Services (KAR) PT Set at $57.00 by Stephens

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.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. The business had revenue of $843.00 million during the quarter, compared to analysts’ expectations of $846.42 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. equities analysts predict that KAR Auction Services will post 2.36 EPS for the current fiscal year.

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).

Analyst Recommendations for KAR Auction Services (NYSE:KAR)

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