KAR Auction Services Inc (NYSE:KAR) insider Smith Mark sold 1,063,240 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $0.99, for a total value of $1,052,607.60.
Shares of NYSE KAR opened at $20.85 on Tuesday. The firm has a market capitalization of $2.72 billion, a P/E ratio of 7.04, a P/E/G ratio of 1.26 and a beta of 0.96. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.36. The stock’s 50-day simple moving average is $23.36 and its two-hundred day simple moving average is $32.18. KAR Auction Services Inc has a twelve month low of $16.41 and a twelve month high of $28.61.
KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, November 5th. The specialty retailer reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The business had revenue of $701.90 million during the quarter, compared to the consensus estimate of $697.46 million. KAR Auction Services had a return on equity of 16.67% and a net margin of 6.95%. KAR Auction Services’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. As a group, research analysts anticipate that KAR Auction Services Inc will post 1.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be paid a $0.19 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.76 dividend on an annualized basis and a yield of 3.65%. KAR Auction Services’s dividend payout ratio is currently 25.68%.
A number of hedge funds and other institutional investors have recently made changes to their positions in KAR. Maverick Capital Ltd. bought a new position in KAR Auction Services in the 2nd quarter worth about $126,648,000. Price T Rowe Associates Inc. MD increased its stake in KAR Auction Services by 42.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,664,232 shares of the specialty retailer’s stock worth $141,606,000 after acquiring an additional 1,676,914 shares during the last quarter. State Street Corp increased its stake in KAR Auction Services by 79.6% in the 3rd quarter. State Street Corp now owns 3,461,253 shares of the specialty retailer’s stock worth $85,361,000 after acquiring an additional 1,533,918 shares during the last quarter. Scopia Capital Management LP boosted its holdings in shares of KAR Auction Services by 143.9% in the 2nd quarter. Scopia Capital Management LP now owns 2,565,615 shares of the specialty retailer’s stock worth $64,140,000 after purchasing an additional 1,513,721 shares in the last quarter. Finally, New Mountain Vantage Advisers L.L.C. purchased a new position in shares of KAR Auction Services in the 2nd quarter worth about $37,655,000. Institutional investors and hedge funds own 99.40% of the company’s stock.
A number of analysts recently issued reports on KAR shares. Zacks Investment Research lowered KAR Auction Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. CJS Securities lowered KAR Auction Services from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Finally, ValuEngine upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $33.58.
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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