Shares of KAR Auction Services, Inc. (NYSE:KAR) have been assigned an average rating of "Hold" from the ten research firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $27.00.
KAR has been the subject of a number of recent analyst reports. Guggenheim cut KAR Auction Services from a "neutral" rating to a "sell" rating and set a $11.00 price objective for the company. in a research report on Wednesday, February 17th. Stephens reaffirmed an "equal weight" rating and issued a $16.00 price objective (down from $23.00) on shares of KAR Auction Services in a research report on Thursday, February 25th. Truist cut KAR Auction Services from a "buy" rating to a "hold" rating and set a $19.00 price objective for the company. in a research report on Wednesday, February 17th. Finally, Zacks Investment Research cut KAR Auction Services from a "hold" rating to a "sell" rating in a report on Thursday, February 18th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in KAR Auction Services by 3.4% in the 4th quarter. BlackRock Inc. now owns 14,284,706 shares of the specialty retailer's stock valued at $265,838,000 after acquiring an additional 473,832 shares in the last quarter. Cardinal Capital Management LLC CT increased its stake in shares of KAR Auction Services by 20.7% in the 4th quarter. Cardinal Capital Management LLC CT now owns 5,542,207 shares of the specialty retailer's stock valued at $103,140,000 after purchasing an additional 948,727 shares during the last quarter. Marathon Asset Management LLP increased its stake in shares of KAR Auction Services by 15.1% in the 1st quarter. Marathon Asset Management LLP now owns 4,336,056 shares of the specialty retailer's stock valued at $65,029,000 after purchasing an additional 568,006 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of KAR Auction Services by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,625,930 shares of the specialty retailer's stock valued at $67,477,000 after purchasing an additional 39,329 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of KAR Auction Services by 3.7% in the 4th quarter. Northern Trust Corp now owns 2,796,876 shares of the specialty retailer's stock valued at $52,050,000 after purchasing an additional 98,611 shares during the last quarter.
KAR stock opened at $15.31 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average price of $15.45 and a two-hundred day moving average price of $17.02. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 102.07, a P/E/G ratio of 0.92 and a beta of 1.59. KAR Auction Services has a twelve month low of $10.28 and a twelve month high of $20.85.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Monday, February 15th. The specialty retailer reported ($0.01) earnings per share for the quarter, missing the Zacks' consensus estimate of $0.28 by ($0.29). The company had revenue of $529.60 million during the quarter, compared to the consensus estimate of $566.66 million. KAR Auction Services had a net margin of 1.61% and a return on equity of 6.50%. On average, equities research analysts anticipate that KAR Auction Services will post 0.93 EPS for the current fiscal year.
About KAR Auction Services
KAR Auction Services, Inc, together with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
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