Karooooo Ltd. (NASDAQ:KARO – Get Rating) saw unusually-strong trading volume on Monday . Approximately 924 shares changed hands during mid-day trading, a decline of 92% from the previous session’s volume of 12,270 shares.The stock last traded at $24.60 and had previously closed at $24.40.
Several brokerages have recently weighed in on KARO. Stifel Nicolaus cut their price objective on shares of Karooooo from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, March 21st. Zacks Investment Research raised Karooooo from a “sell” rating to a “hold” rating in a research note on Monday, April 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Karooooo currently has a consensus rating of “Buy” and an average target price of $43.16.
The firm has a market capitalization of $508.39 million and a price-to-earnings ratio of 23.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.79. The stock’s fifty day moving average is $29.84 and its two-hundred day moving average is $32.43.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jupiter Asset Management Ltd. raised its position in shares of Karooooo by 27.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 140,612 shares of the company’s stock valued at $4,085,000 after purchasing an additional 30,357 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Karooooo in the 4th quarter valued at about $8,156,000. Geode Capital Management LLC lifted its position in shares of Karooooo by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 14,527 shares of the company’s stock worth $592,000 after purchasing an additional 1,203 shares during the last quarter. Citigroup Inc. grew its stake in Karooooo by 19,900.0% in the fourth quarter. Citigroup Inc. now owns 10,000 shares of the company’s stock worth $408,000 after purchasing an additional 9,950 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. increased its holdings in Karooooo by 7.4% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 24,828 shares of the company’s stock valued at $1,012,000 after buying an additional 1,702 shares during the last quarter. Hedge funds and other institutional investors own 28.51% of the company’s stock.
About Karooooo (NASDAQ:KARO)
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 comprehensive fleet management SaaS platform that provides real-time insights; LiveVision, which offers comprehensive pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; Communicator, a software application enabling mobile device tracking and user management; asset tracking for tracking and tracing moveable assets; asset recovery services that assists vehicle owners and insurance companies with the recovery of vehicles and other assets; and insurance telematics, which allows insurers to tailor premiums for commercial and consumer customers using analytics.
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