SunTrust Banks set a $70.00 target price on KAR Auction Services (NYSE:KAR) in a report published on Thursday morning, The Fly reports. The brokerage currently has a buy rating on the specialty retailer’s stock.
KAR has been the topic of a number of other reports. Guggenheim assumed coverage on KAR Auction Services in a research note on Tuesday, April 17th. They set a neutral rating on the stock. Zacks Investment Research raised KAR Auction Services from a hold rating to a buy rating and set a $67.00 price objective on the stock in a research note on Tuesday, August 7th. Barrington Research reaffirmed a buy rating on shares of KAR Auction Services in a research note on Monday, August 6th. Finally, ValuEngine lowered KAR Auction Services from a buy rating to a hold rating in a research note on Saturday, June 2nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $60.89.
Shares of KAR stock traded down $0.27 during mid-day trading on Thursday, reaching $61.91. 905,140 shares of the stock traded hands, compared to its average volume of 1,101,350. KAR Auction Services has a 1-year low of $42.44 and a 1-year high of $62.56. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.71 and a beta of 1.06. The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 1.76.
KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, August 7th. The specialty retailer reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. KAR Auction Services had a return on equity of 26.15% and a net margin of 11.50%. The firm had revenue of $956.60 million for the quarter, compared to analyst estimates of $923.01 million. sell-side analysts predict that KAR Auction Services will post 2.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Thursday, September 20th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, September 19th. KAR Auction Services’s dividend payout ratio is currently 56.00%.
In related news, insider Rebecca C. Polak sold 44,240 shares of KAR Auction Services stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $59.89, for a total value of $2,649,533.60. Following the transaction, the insider now directly owns 90,630 shares of the company’s stock, valued at $5,427,830.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rebecca C. Polak sold 39,589 shares of KAR Auction Services stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $55.20, for a total value of $2,185,312.80. Following the completion of the transaction, the insider now directly owns 51,041 shares in the company, valued at $2,817,463.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 167,018 shares of company stock worth $9,472,886. 1.29% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of KAR. Legal & General Group Plc increased its holdings in KAR Auction Services by 1.1% in the second quarter. Legal & General Group Plc now owns 97,305 shares of the specialty retailer’s stock worth $5,333,000 after purchasing an additional 1,013 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in KAR Auction Services by 0.9% in the first quarter. Summit Trail Advisors LLC now owns 122,908 shares of the specialty retailer’s stock worth $6,594,000 after purchasing an additional 1,079 shares in the last quarter. Atria Investments LLC increased its holdings in KAR Auction Services by 14.4% in the first quarter. Atria Investments LLC now owns 9,140 shares of the specialty retailer’s stock worth $495,000 after purchasing an additional 1,149 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in KAR Auction Services by 15.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 8,829 shares of the specialty retailer’s stock worth $479,000 after purchasing an additional 1,168 shares in the last quarter. Finally, Swiss National Bank increased its holdings in KAR Auction Services by 0.6% in the first quarter. Swiss National Bank now owns 235,300 shares of the specialty retailer’s stock worth $12,753,000 after purchasing an additional 1,400 shares in the last quarter. 98.58% of the stock is currently owned by 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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