Shares of KAR Auction Services Inc (NYSE:KAR) have been assigned a consensus rating of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $60.33.
KAR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. SunTrust Banks decreased their price target on KAR Auction Services to $65.00 and set a “buy” rating on the stock in a research report on Monday, January 7th. Robert W. Baird restated a “buy” rating and issued a $56.00 price target on shares of KAR Auction Services in a research report on Wednesday, February 20th. Finally, Barrington Research restated a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, February 20th.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc increased its position in shares of KAR Auction Services by 13.4% in the fourth quarter. IFP Advisors Inc now owns 1,683 shares of the specialty retailer’s stock worth $79,000 after purchasing an additional 199 shares during the period. PNC Financial Services Group Inc. grew its position in KAR Auction Services by 8.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,083 shares of the specialty retailer’s stock valued at $147,000 after acquiring an additional 236 shares during the last quarter. Private Capital Group LLC grew its position in KAR Auction Services by 32.8% in the fourth quarter. Private Capital Group LLC now owns 993 shares of the specialty retailer’s stock valued at $48,000 after acquiring an additional 245 shares during the last quarter. D.A. Davidson & CO. grew its position in KAR Auction Services by 4.3% in the fourth quarter. D.A. Davidson & CO. now owns 6,891 shares of the specialty retailer’s stock valued at $329,000 after acquiring an additional 282 shares during the last quarter. Finally, Arlington Partners LLC grew its position in KAR Auction Services by 70.0% in the first quarter. Arlington Partners LLC now owns 850 shares of the specialty retailer’s stock valued at $44,000 after acquiring an additional 350 shares during the last quarter.
KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, February 19th. The specialty retailer reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. KAR Auction Services had a return on equity of 26.46% and a net margin of 8.70%. The company had revenue of $929.00 million during the quarter, compared to the consensus estimate of $936.37 million. On average, equities research analysts predict that KAR Auction Services will post 2.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 22nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, March 21st. KAR Auction Services’s payout ratio is currently 47.30%.
KAR Auction Services Company Profile
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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