KAR Auction Services, Inc (NYSE:KAR) – Investment analysts at Gabelli raised their FY2017 earnings estimates for KAR Auction Services in a research report issued on Thursday, according to Zacks Investment Research. Gabelli analyst M. Paige now expects that the specialty retailer will earn $2.35 per share for the year, up from their prior forecast of $2.25. Gabelli currently has a “Hold” rating and a $53.00 target price on the stock.
A number of other equities research analysts also recently weighed in on the company. Stephens downgraded KAR Auction Services from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $51.00 to $48.00 in a research note on Thursday, September 7th. Jefferies Group LLC reissued a “buy” rating and set a $50.00 price objective on shares of KAR Auction Services in a report on Tuesday, September 12th. J P Morgan Chase & Co increased their price objective on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Zacks Investment Research lowered KAR Auction Services from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, BidaskClub raised KAR Auction Services from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. KAR Auction Services currently has a consensus rating of “Buy” and a consensus target price of $52.20.
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Shares of KAR Auction Services (KAR) opened at $48.14 on Monday. KAR Auction Services has a one year low of $39.70 and a one year high of $49.38. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market capitalization of $6,526.53, a PE ratio of 21.07, a PEG ratio of 1.52 and a beta of 1.08.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The firm had revenue of $843.00 million during the quarter, compared to the consensus estimate of $846.42 million. During the same period in the prior year, the business earned $0.50 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $1.40 dividend on an annualized basis and a yield of 2.91%. This is a positive change from KAR Auction Services’s previous quarterly dividend of $0.32. KAR Auction Services’s dividend payout ratio (DPR) is 75.29%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in KAR Auction Services by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 11,344,446 shares of the specialty retailer’s stock valued at $476,126,000 after buying an additional 57,704 shares during the last quarter. Principal Financial Group Inc. grew its holdings in KAR Auction Services by 18.6% in the 2nd quarter. Principal Financial Group Inc. now owns 5,867,365 shares of the specialty retailer’s stock valued at $246,255,000 after buying an additional 918,735 shares during the last quarter. BlackRock Inc. grew its holdings in KAR Auction Services by 1.9% in the 2nd quarter. BlackRock Inc. now owns 5,726,037 shares of the specialty retailer’s stock valued at $240,320,000 after buying an additional 107,601 shares during the last quarter. Bessemer Group Inc. grew its holdings in KAR Auction Services by 2.9% in the 3rd quarter. Bessemer Group Inc. now owns 3,207,071 shares of the specialty retailer’s stock valued at $153,105,000 after buying an additional 91,373 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in KAR Auction Services by 11.1% in the 3rd quarter. Schroder Investment Management Group now owns 3,033,008 shares of the specialty retailer’s stock valued at $142,612,000 after buying an additional 302,029 shares during the last quarter.
About KAR Auction Services
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).
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