Karooooo (NASDAQ:KARO) Given "Outperform" Rating at Raymond James Financial

Karooooo (NASDAQ:KARO - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Raymond James Financial in a report released on Thursday,Benzinga reports. They presently have a $60.00 target price on the stock, up from their previous target price of $58.00. Raymond James Financial's price target would indicate a potential upside of 24.53% from the stock's current price.

A number of other research analysts have also weighed in on KARO. Needham & Company LLC assumed coverage on shares of Karooooo in a research note on Wednesday, July 16th. They issued a "buy" rating and a $60.00 price objective on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $53.00 target price (up previously from $43.00) on shares of Karooooo in a research report on Thursday, June 26th.

Karooooo Trading Up 0.5%

Shares of Karooooo stock traded up $0.24 on Thursday, reaching $48.18. 47,015 shares of the company's stock were exchanged, compared to its average volume of 50,185. The company has a market capitalization of $1.49 billion, a P/E ratio of 28.01 and a beta of 1.08. Karooooo has a 52 week low of $31.59 and a 52 week high of $63.36. The firm's 50-day moving average is $51.44 and its two-hundred day moving average is $46.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.16 and a current ratio of 1.17.

Karooooo (NASDAQ:KARO - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. Karooooo had a return on equity of 31.48% and a net margin of 20.23%. The firm had revenue of $70.49 million during the quarter, compared to the consensus estimate of $1.25 billion. Sell-side analysts predict that Karooooo will post 1.57 EPS for the current fiscal year.

Institutional Trading of Karooooo

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in Karooooo in the fourth quarter valued at approximately $635,000. JPMorgan Chase & Co. lifted its stake in Karooooo by 1,727.0% in the fourth quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company's stock valued at $403,000 after purchasing an additional 8,445 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Karooooo by 6.8% in the fourth quarter. Squarepoint Ops LLC now owns 9,494 shares of the company's stock valued at $429,000 after purchasing an additional 602 shares during the last quarter. Northern Trust Corp purchased a new position in Karooooo in the fourth quarter valued at approximately $340,000. Finally, BNP Paribas Financial Markets purchased a new position in Karooooo in the fourth quarter valued at approximately $210,000.

About Karooooo

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.