Karooooo Ltd. (NASDAQ:KARO - Get Free Report) shares dropped 8.8% during mid-day trading on Wednesday . The stock traded as low as $59.50 and last traded at $57.54. Approximately 8,948 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 33,478 shares. The stock had previously closed at $63.10.
Analyst Upgrades and Downgrades
Separately, Raymond James lifted their price target on Karooooo from $51.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th.
Check Out Our Latest Stock Report on Karooooo
Karooooo Price Performance
The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 37.09 and a beta of 1.15. The company has a 50 day moving average of $45.51 and a 200 day moving average of $45.28. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.14.
Karooooo (NASDAQ:KARO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.18 billion. During the same quarter in the prior year, the business posted $6.81 earnings per share. As a group, equities research analysts forecast that Karooooo Ltd. will post 1.57 EPS for the current fiscal year.
Institutional Investors Weigh In On Karooooo
Large investors have recently modified their holdings of the stock. New York State Common Retirement Fund bought a new stake in shares of Karooooo during the 4th quarter worth $26,000. BNP Paribas Financial Markets acquired a new stake in shares of Karooooo in the fourth quarter worth $210,000. Lazard Asset Management LLC boosted 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 worth $223,000 after buying an additional 740 shares during the period. Nipun Capital L.P. acquired a new stake in shares of Karooooo in the first quarter worth $242,000. Finally, Northern Trust Corp acquired a new stake in shares of Karooooo in the fourth quarter worth $340,000.
Karooooo Company Profile
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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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