KAR Auction Services (KAR) Upgraded at ValuEngine

ValuEngine upgraded shares of KAR Auction Services (NYSE:KAR) from a hold rating to a buy rating in a research note released on Wednesday.

Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded KAR Auction Services from a hold rating to a buy rating and set a $67.00 price target for the company in a research report on Tuesday, August 7th. Robert W. Baird increased their price target on KAR Auction Services from $62.00 to $64.00 and gave the company an outperform rating in a research report on Thursday, August 9th. Barrington Research reiterated a buy rating on shares of KAR Auction Services in a research report on Monday, August 6th. SunTrust Banks set a $70.00 price target on KAR Auction Services and gave the company a buy rating in a research report on Thursday, August 9th. Finally, Gabelli lowered KAR Auction Services from a buy rating to a hold rating in a research report on Thursday, August 9th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. KAR Auction Services currently has a consensus rating of Buy and an average price target of $65.29.

NYSE:KAR opened at $56.60 on Wednesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.32 and a quick ratio of 1.32. KAR Auction Services has a 1-year low of $48.22 and a 1-year high of $64.55. The firm has a market capitalization of $7.62 billion, a P/E ratio of 19.06, a P/E/G ratio of 1.64 and a beta of 1.08.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.01). KAR Auction Services had a net margin of 11.62% and a return on equity of 26.50%. The company had revenue of $933.50 million during the quarter, compared to analyst estimates of $910.43 million. During the same quarter last year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts expect that KAR Auction Services will post 2.94 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Thursday, December 20th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $1.40 dividend on an annualized basis and a yield of 2.47%. KAR Auction Services’s payout ratio is presently 56.00%.

In other KAR Auction Services news, EVP Benjamin Skuy sold 59,560 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $62.74, for a total transaction of $3,736,794.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Donald S. Gottwald sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $62.98, for a total value of $629,800.00. The disclosure for this sale can be found here. Company insiders own 1.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in KAR Auction Services by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,750,324 shares of the specialty retailer’s stock worth $761,067,000 after acquiring an additional 260,521 shares during the period. BlackRock Inc. boosted its position in KAR Auction Services by 6.1% during the 3rd quarter. BlackRock Inc. now owns 7,967,066 shares of the specialty retailer’s stock worth $475,555,000 after acquiring an additional 460,114 shares during the period. Mawer Investment Management Ltd. boosted its position in KAR Auction Services by 3.2% during the 2nd quarter. Mawer Investment Management Ltd. now owns 3,385,579 shares of the specialty retailer’s stock worth $185,530,000 after acquiring an additional 103,842 shares during the period. Wells Fargo & Company MN boosted its position in KAR Auction Services by 4.7% during the 2nd quarter. Wells Fargo & Company MN now owns 2,892,585 shares of the specialty retailer’s stock worth $158,513,000 after acquiring an additional 129,973 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in KAR Auction Services by 5.9% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,865,369 shares of the specialty retailer’s stock worth $157,022,000 after acquiring an additional 158,515 shares during the period. Hedge funds and other institutional investors own 95.98% of the company’s stock.

KAR Auction Services Company Profile

KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

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Analyst Recommendations for KAR Auction Services (NYSE:KAR)

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