KAR Auction Services Inc. (NYSE:KAR) EVP Lisa A. Price sold 5,140 shares of KAR Auction Services stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $44.00, for a total value of $226,160.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
KAR Auction Services Inc. (NYSE:KAR) opened at 43.45 on Friday. The firm has a market capitalization of $5.99 billion, a PE ratio of 27.19 and a beta of 1.37. KAR Auction Services Inc. has a one year low of $31.54 and a one year high of $44.10. The company has a 50 day moving average price of $42.57 and a 200-day moving average price of $40.77.
KAR Auction Services (NYSE:KAR) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by $0.01. KAR Auction Services had a net margin of 7.79% and a return on equity of 19.03%. The company earned $771.80 million during the quarter, compared to the consensus estimate of $757.67 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities analysts predict that KAR Auction Services Inc. will post $2.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Wednesday, September 21st were paid a $0.29 dividend. The ex-dividend date was Monday, September 19th. This represents a $1.16 annualized dividend and a dividend yield of 2.67%. KAR Auction Services’s dividend payout ratio is currently 72.50%.
Several brokerages have weighed in on KAR. Susquehanna began coverage on KAR Auction Services in a research note on Friday, August 26th. They set a “positive” rating and a $50.00 target price on the stock. Macquarie reaffirmed an “outperform” rating on shares of KAR Auction Services in a research note on Monday, August 29th. Zacks Investment Research downgraded KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Jefferies Group boosted their price objective on KAR Auction Services from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of KAR Auction Services in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $43.71.
Several large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in KAR Auction Services by 40.3% in the second quarter. FMR LLC now owns 10,444,899 shares of the company’s stock worth $435,970,000 after buying an additional 2,998,636 shares during the period. Point72 Asset Management L.P. raised its stake in KAR Auction Services by 127.9% in the second quarter. Point72 Asset Management L.P. now owns 3,266,800 shares of the company’s stock worth $136,356,000 after buying an additional 1,833,200 shares during the period. KAMES CAPITAL plc acquired a new stake in KAR Auction Services during the second quarter worth approximately $34,885,000. EverPoint Asset Management LLC raised its stake in KAR Auction Services by 257.5% in the second quarter. EverPoint Asset Management LLC now owns 901,401 shares of the company’s stock worth $37,624,000 after buying an additional 649,257 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in KAR Auction Services during the second quarter worth approximately $18,456,000.
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), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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