Karooooo (NASDAQ:KARO) Sets New 12-Month High – Time to Buy?

Shares of Karooooo Ltd. (NASDAQ:KARO) hit a new 52-week high during trading on Thursday . The company traded as high as $50.54 and last traded at $50.00, with a volume of 55791 shares traded. The stock had previously closed at $47.12.

Karooooo Stock Down 3.5 %

The firm has a fifty day moving average of $44.46 and a 200 day moving average of $39.47. The stock has a market cap of $1.03 billion, a PE ratio of 32.82 and a beta of 1.03. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 0.15.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. The firm had revenue of $60.70 million during the quarter, compared to the consensus estimate of $60.26 million. On average, equities research analysts anticipate that Karooooo Ltd. will post 1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Karooooo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its holdings in shares of Karooooo by 50.6% in the 2nd quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock valued at $116,000 after purchasing an additional 1,377 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Karooooo by 5.4% in the second quarter. Jupiter Asset Management Ltd. now owns 209,097 shares of the company’s stock valued at $6,001,000 after acquiring an additional 10,705 shares during the period. Renaissance Technologies LLC grew its position in shares of Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after acquiring an additional 3,356 shares during the last quarter. Gladius Capital Management LP increased its holdings in shares of Karooooo by 124.2% in the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after acquiring an additional 8,041 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Karooooo in the 3rd quarter valued at $323,000.

Karooooo Company Profile

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.