Stephens Analysts Give KAR Auction Services (KAR) a $57.00 Price Target

KAR Auction Services (NYSE:KAR) has been assigned a $57.00 price target by equities research analysts at Stephens in a research note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the specialty retailer’s stock. Stephens’ price objective points to a potential upside of 6.54% from the company’s current price.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. raised their price objective on KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, November 8th. Finally, Gabelli downgraded KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $54.60.

Shares of KAR Auction Services (NYSE:KAR) traded up $0.15 during mid-day trading on Wednesday, hitting $53.50. The company had a trading volume of 646,400 shares, compared to its average volume of 739,942. KAR Auction Services has a 52-week low of $40.27 and a 52-week high of $53.84. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $7,216.38, a price-to-earnings ratio of 31.47, a P/E/G ratio of 1.53 and a beta of 1.08.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The company had revenue of $843.00 million for the quarter, compared to the consensus estimate of $846.42 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. KAR Auction Services’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. equities research analysts anticipate that KAR Auction Services will post 2.36 earnings per share for the current fiscal year.

In other news, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $48.14, for a total value of $481,400.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Benjamin Skuy sold 12,000 shares of KAR Auction Services stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $48.50, for a total value of $582,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock worth $1,575,200 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Raymond James Trust N.A. increased its holdings in shares of KAR Auction Services by 29.0% in the 3rd quarter. Raymond James Trust N.A. now owns 9,705 shares of the specialty retailer’s stock valued at $463,000 after acquiring an additional 2,179 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of KAR Auction Services by 105.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock valued at $171,000 after acquiring an additional 2,087 shares during the period. Boston Partners increased its holdings in shares of KAR Auction Services by 15.4% in the 3rd quarter. Boston Partners now owns 640,752 shares of the specialty retailer’s stock valued at $30,589,000 after acquiring an additional 85,676 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of KAR Auction Services by 39.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 693,871 shares of the specialty retailer’s stock valued at $29,125,000 after acquiring an additional 194,621 shares during the period. Finally, Amalgamated Bank increased its holdings in shares of KAR Auction Services by 26.9% in the 2nd quarter. Amalgamated Bank now owns 25,512 shares of the specialty retailer’s stock valued at $1,071,000 after acquiring an additional 5,402 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

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KAR Auction Services Company Profile

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

Analyst Recommendations for KAR Auction Services (NYSE:KAR)

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