Analysts Set KAR Auction Services Inc (NYSE:KAR) PT at $20.20

Shares of KAR Auction Services Inc (NYSE:KAR) have earned a consensus recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.20.

Several research analysts recently commented on KAR shares. SunTrust Banks boosted their price target on KAR Auction Services from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Stephens cut their price target on KAR Auction Services from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. JPMorgan Chase & Co. upgraded KAR Auction Services from a “neutral” rating to an “overweight” rating and set a $19.00 price target on the stock in a research note on Thursday, April 23rd. ValuEngine upgraded KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Thursday, April 9th. Finally, Barrington Research reiterated a “buy” rating and issued a $25.00 price target on shares of KAR Auction Services in a research note on Monday, May 4th.

Shares of NYSE KAR opened at $15.13 on Tuesday. KAR Auction Services has a 1-year low of $9.41 and a 1-year high of $28.61. The business has a 50-day moving average of $14.14 and a 200-day moving average of $15.96. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 7.56 and a beta of 1.40.

KAR Auction Services (NYSE:KAR) last issued its earnings results on Thursday, May 7th. The specialty retailer reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.07). KAR Auction Services had a return on equity of 7.42% and a net margin of 4.15%. The company had revenue of $645.50 million during the quarter, compared to analysts’ expectations of $632.59 million. During the same period in the previous year, the company earned $0.70 EPS. KAR Auction Services’s quarterly revenue was down 38.3% on a year-over-year basis. Research analysts expect that KAR Auction Services will post 0.36 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust raised its position in shares of KAR Auction Services by 33.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 3,068 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 777 shares during the period. SG Americas Securities LLC raised its position in shares of KAR Auction Services by 10.2% during the 1st quarter. SG Americas Securities LLC now owns 10,335 shares of the specialty retailer’s stock worth $124,000 after purchasing an additional 957 shares during the period. State of Alaska Department of Revenue raised its position in shares of KAR Auction Services by 4.7% during the 1st quarter. State of Alaska Department of Revenue now owns 22,163 shares of the specialty retailer’s stock worth $265,000 after purchasing an additional 999 shares during the period. Louisiana State Employees Retirement System raised its position in shares of KAR Auction Services by 3.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 32,300 shares of the specialty retailer’s stock worth $444,000 after purchasing an additional 1,100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of KAR Auction Services by 12.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,181 shares of the specialty retailer’s stock worth $122,000 after purchasing an additional 1,104 shares during the period.

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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