ValuEngine Upgrades KAR Auction Services (NYSE:KAR) to Hold

ValuEngine upgraded shares of KAR Auction Services (NYSE:KAR) from a sell rating to a hold rating in a research note published on Thursday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim cut shares of KAR Auction Services from a neutral rating to a sell rating and set a $20.00 price objective on the stock. in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. cut shares of KAR Auction Services from an overweight rating to a neutral rating and set a $25.00 price objective on the stock. in a research note on Monday, July 1st. SunTrust Banks dropped their price objective on shares of KAR Auction Services from $65.00 to $30.00 and set a buy rating on the stock in a research note on Monday, July 1st. Barrington Research reaffirmed a buy rating and set a $42.50 price objective on shares of KAR Auction Services in a research note on Friday, June 28th. Finally, Robert W. Baird began coverage on shares of KAR Auction Services in a research note on Friday, June 28th. They set an outperform rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $42.50.

Shares of KAR Auction Services stock traded down $0.65 during midday trading on Thursday, hitting $25.80. The company had a trading volume of 90,351 shares, compared to its average volume of 2,449,411. The stock has a market capitalization of $3.47 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.38. The business has a fifty day moving average price of $35.56. KAR Auction Services has a 12-month low of $16.41 and a 12-month high of $27.15.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings data on Tuesday, May 7th. The specialty retailer reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.07). KAR Auction Services had a net margin of 8.17% and a return on equity of 25.43%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that KAR Auction Services will post 1.29 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Motco raised its holdings in KAR Auction Services by 1,732.4% in the 1st quarter. Motco now owns 623 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 589 shares during the period. Arlington Partners LLC raised its stake in shares of KAR Auction Services by 70.0% during the first quarter. Arlington Partners LLC now owns 850 shares of the specialty retailer’s stock worth $44,000 after purchasing an additional 350 shares during the last quarter. Cornerstone Advisors Inc. purchased a new position in KAR Auction Services in the first quarter worth $46,000. FTB Advisors Inc. raised its position in KAR Auction Services by 75.9% in the first quarter. FTB Advisors Inc. now owns 1,038 shares of the specialty retailer’s stock worth $53,000 after acquiring an additional 448 shares in the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in KAR Auction Services in the first quarter worth $57,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for KAR Auction Services (NYSE:KAR)

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