Karooooo Ltd. (NASDAQ:KARO - Get Free Report) saw unusually-high trading volume on Friday . Approximately 74,334 shares changed hands during mid-day trading, an increase of 97% from the previous session's volume of 37,810 shares.The stock last traded at $48.63 and had previously closed at $47.72.
Wall Street Analysts Forecast Growth
Separately, Raymond James increased their price objective on Karooooo from $51.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th.
Get Our Latest Analysis on Karooooo
Karooooo Price Performance
The company has a 50-day simple moving average of $47.72 and a 200-day simple moving average of $46.02. The stock has a market cap of $1.49 billion, a PE ratio of 30.92 and a beta of 1.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24.
Karooooo (NASDAQ:KARO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. The firm had revenue of $65.12 million during the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the prior year, the business posted $6.81 earnings per share. Sell-side analysts anticipate that Karooooo Ltd. will post 1.57 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in KARO. New York State Common Retirement Fund purchased a new position in shares of Karooooo in the fourth quarter valued at $26,000. BNP Paribas Financial Markets purchased a new position in shares of Karooooo in the fourth quarter valued at $210,000. Lazard Asset Management LLC increased its position in shares of Karooooo by 17.5% in the fourth quarter. Lazard Asset Management LLC now owns 4,961 shares of the company's stock valued at $223,000 after buying an additional 740 shares in the last quarter. Nipun Capital L.P. acquired a new stake in shares of Karooooo during the first quarter valued at $242,000. Finally, Northern Trust Corp acquired a new stake in shares of Karooooo during the fourth quarter valued at $340,000.
About Karooooo
(
Get Free Report)
Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.
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