Karooooo Ltd. (NASDAQ:KARO) Stock Has Average Target Price of $72.80 According to Brokerages

Key Points

• Karooooo has a “Moderate Buy” consensus from eight analysts, with five buy ratings and three holds. The average 12-month price target is $72.80, above the stock’s reported $64.46 opening price.
• KARO shares have risen within a 52-week range of $41.25 to $68.80, with a market capitalization of approximately $1.99 billion and a P/E ratio of 30.84.
• Insiders sold shares recently: CEO Isaias Calisto sold 33,833 shares for about $2.24 million, while insiders sold roughly $12.7 million worth of stock during the quarter; insiders still own 74.73% of the company.

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $72.80.

A number of analysts have recently weighed in on KARO shares. Zacks Research downgraded Karooooo from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Freedom Broker increased their price target on shares of Karooooo from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Thursday, October 22nd. UBS Group reiterated a "buy" rating and set a $75.00 price target on shares of Karooooo in a research report on Thursday, July 16th. Weiss Ratings restated a "buy (b-)" rating on shares of Karooooo in a research report on Tuesday, October 20th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $74.00 target price on shares of Karooooo in a report on Friday, July 17th.

Karooooo Trading Down 0.4%

Shares of KARO stock opened at $64.46 on Wednesday. The stock has a market cap of $1.99 billion, a P/E ratio of 30.84 and a beta of 0.89. Karooooo has a 1 year low of $41.25 and a 1 year high of $68.80. The stock has a 50 day simple moving average of $63.49 and a 200 day simple moving average of $54.16.

Insider Transactions at Karooooo

In other Karooooo news, CEO Isaias Calisto sold 33,833 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $66.14, for a total transaction of $2,237,714.62. Following the completion of the transaction, the chief executive officer owned 17,714,186 shares of the company's stock, valued at approximately $1,171,616,262.04. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 197,771 shares of company stock valued at $12,726,712 in the last quarter. Insiders own 74.73% of the company's stock.

Institutional Trading of Karooooo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new stake in Karooooo during the 2nd quarter worth $54,000. Allworth Financial LP bought a new position in Karooooo in the second quarter valued at about $64,000. R Squared Ltd bought a new position in Karooooo in the first quarter valued at about $296,000. DGS Capital Management LLC raised its position in Karooooo by 5.7% in the first quarter. DGS Capital Management LLC now owns 7,359 shares of the company's stock valued at $367,000 after purchasing an additional 398 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Karooooo by 9.5% during the first quarter. Bank of America Corp DE now owns 8,798 shares of the company's stock valued at $438,000 after purchasing an additional 764 shares in the last quarter.

Karooooo Company Profile

Karooooo Ltd. is a Singapore-based technology company that provides connected-vehicle and mobility solutions through its Cartrack business. Its cloud-based platform uses telematics, vehicle tracking and data analytics to help businesses monitor vehicles and assets, improve fleet operations, manage driver behavior and enhance safety.

The company's products and services include real-time vehicle location and monitoring, fleet management, stolen-vehicle recovery, vehicle and asset tracking, maintenance and fuel-management tools, and workflow solutions.

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