Karooooo Ltd. (NASDAQ:KARO) Given Average Rating of "Moderate Buy" by Analysts

Shares of Karooooo Ltd. (NASDAQ:KARO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $73.50.

A number of analysts have recently issued reports on KARO shares. Raymond James Financial increased their target price on Karooooo from $60.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, July 17th. Roth Capital reiterated a "buy" rating and set a $74.00 price target on shares of Karooooo in a report on Friday, July 17th. Needham & Company LLC upped their price target on Karooooo from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Freedom Capital lowered Karooooo from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. Finally, Zacks Research cut Karooooo from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th.

Insider Activity at Karooooo

In related news, CEO Isaias Calisto sold 6,202 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $63.50, for a total transaction of $393,827.00. Following the transaction, the chief executive officer directly owned 17,640,700 shares of the company's stock, valued at approximately $1,120,184,450. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 277,617 shares of company stock worth $17,840,247 in the last ninety days. Company insiders own 74.73% of the company's stock.

Institutional Investors Weigh In On Karooooo

A number of institutional investors have recently modified their holdings of the stock. DGS Capital Management LLC grew its holdings in shares of Karooooo by 5.7% during the 1st quarter. DGS Capital Management LLC now owns 7,359 shares of the company's stock valued at $367,000 after acquiring an additional 398 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Karooooo by 1.4% during the first quarter. Renaissance Technologies LLC now owns 27,987 shares of the company's stock worth $1,395,000 after acquiring an additional 400 shares in the last quarter. Lazard Asset Management LLC boosted its position in Karooooo by 7.5% during the third quarter. Lazard Asset Management LLC now owns 6,139 shares of the company's stock valued at $351,000 after purchasing an additional 430 shares during the last quarter. Bank of America Corp DE boosted its position in Karooooo by 17.2% during the second quarter. Bank of America Corp DE now owns 5,100 shares of the company's stock valued at $250,000 after purchasing an additional 750 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Karooooo during the second quarter valued at $54,000.

Karooooo Stock Performance

Karooooo stock opened at $65.48 on Tuesday. Karooooo has a fifty-two week low of $41.25 and a fifty-two week high of $68.80. The firm's 50 day simple moving average is $62.06 and its 200-day simple moving average is $53.03. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01. The company has a market cap of $2.02 billion, a P/E ratio of 33.24 and a beta of 0.89.

Karooooo (NASDAQ:KARO - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.51 by $0.08. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The business had revenue of $96.26 million during the quarter. As a group, equities research analysts predict that Karooooo will post 2.41 EPS for the current year.

About Karooooo

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.

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