KAR Auction Services (NYSE:KAR) Earns “Buy” Rating from Barrington Research

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KAR Auction Services (NYSE:KAR)‘s stock had its “buy” rating reiterated by analysts at Barrington Research in a report issued on Thursday, AnalystRatings.com reports. They presently have a $25.00 price target on the specialty retailer’s stock. Barrington Research’s price target indicates a potential upside of 104.92% from the stock’s previous close.

Several other brokerages have also recently weighed in on KAR. Stephens reduced their price target on shares of KAR Auction Services from $22.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. Jefferies Financial Group cut KAR Auction Services from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research report on Friday, January 10th. Guggenheim raised KAR Auction Services from a “sell” rating to a “neutral” rating in a research report on Tuesday, March 10th. Finally, Bank of America cut KAR Auction Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 18th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. KAR Auction Services currently has a consensus rating of “Hold” and a consensus price target of $23.71.

Shares of NYSE:KAR traded up $0.18 during midday trading on Thursday, reaching $12.20. The company’s stock had a trading volume of 2,233,178 shares, compared to its average volume of 3,032,697. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 0.64 and a beta of 0.97. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.35. KAR Auction Services has a 1 year low of $9.75 and a 1 year high of $28.61. The business has a 50 day moving average price of $19.00 and a 200 day moving average price of $22.04.

KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.04). The firm had revenue of $671.30 million during the quarter, compared to the consensus estimate of $658.13 million. KAR Auction Services had a net margin of 6.00% and a return on equity of 12.57%. Sell-side analysts anticipate that KAR Auction Services will post 1.33 earnings per share for the current fiscal year.

In other news, EVP Benjamin Skuy purchased 7,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was acquired at an average price of $22.45 per share, with a total value of $157,150.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Didomenico purchased 10,000 shares of the company’s stock in a transaction on Monday, February 24th. The shares were purchased at an average cost of $21.77 per share, with a total value of $217,700.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $217,700. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 128,355 shares of company stock worth $2,326,340. 1.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Crossmark Global Holdings Inc. purchased a new stake in shares of KAR Auction Services during the fourth quarter valued at about $274,000. Barclays PLC raised its position in shares of KAR Auction Services by 285.1% during the 3rd quarter. Barclays PLC now owns 244,648 shares of the specialty retailer’s stock valued at $6,005,000 after acquiring an additional 181,126 shares during the last quarter. Colony Group LLC raised its position in shares of KAR Auction Services by 11.2% during the 3rd quarter. Colony Group LLC now owns 105,768 shares of the specialty retailer’s stock valued at $2,597,000 after acquiring an additional 10,695 shares during the last quarter. GQ Asset Management LLC bought a new stake in shares of KAR Auction Services during the 3rd quarter valued at $144,000. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of KAR Auction Services during the 4th quarter valued at $1,240,000.

About KAR Auction Services

KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, 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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Analyst Recommendations for KAR Auction Services (NYSE:KAR)

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