KAR Auction Services, Inc. (NYSE:KAR) – Analysts at Truist Securiti lowered their Q3 2020 earnings estimates for KAR Auction Services in a report released on Wednesday, October 14th. Truist Securiti analyst S. Benjamin now expects that the specialty retailer will earn $0.37 per share for the quarter, down from their prior forecast of $0.52. Truist Securiti also issued estimates for KAR Auction Services’ FY2020 earnings at $0.97 EPS, Q2 2021 earnings at $0.53 EPS, Q3 2021 earnings at $0.48 EPS, Q4 2021 earnings at $0.46 EPS and FY2021 earnings at $1.95 EPS.
Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of KAR Auction Services from a “buy” rating to a “hold” rating in a report on Wednesday. Stephens raised shares of KAR Auction Services from an “equal weight” rating to an “overweight” rating in a research note on Thursday, October 1st. Barrington Research reissued a “buy” rating on shares of KAR Auction Services in a research note on Friday, August 28th. Finally, Northcoast Research raised shares of KAR Auction Services from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Thursday, August 13th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.57.
NYSE:KAR opened at $16.96 on Friday. KAR Auction Services has a one year low of $9.41 and a one year high of $26.63. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 89.26, a PEG ratio of 3.79 and a beta of 1.52. The firm’s fifty day moving average is $16.10 and its two-hundred day moving average is $14.71.
KAR Auction Services (NYSE:KAR) last posted its quarterly earnings results on Tuesday, August 4th. The specialty retailer reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.18. KAR Auction Services had a net margin of 1.05% and a return on equity of 5.72%. The company had revenue of $419.00 million for the quarter, compared to analyst estimates of $420.08 million. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s revenue was down 41.7% on a year-over-year basis.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 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 last quarter. HBK Sorce Advisory LLC raised its position in shares of KAR Auction Services by 8.0% during the 1st quarter. HBK Sorce Advisory LLC now owns 17,820 shares of the specialty retailer’s stock worth $214,000 after purchasing an additional 1,319 shares during the last quarter. Ameritas Investment Company LLC acquired a new position in shares of KAR Auction Services during the 1st quarter worth about $26,000. Mutual of America Capital Management LLC raised its holdings in KAR Auction Services by 1.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 122,174 shares of the specialty retailer’s stock valued at $1,681,000 after acquiring an additional 2,308 shares during the last quarter. Finally, Twin Tree Management LP raised its holdings in KAR Auction Services by 197.0% in the 2nd quarter. Twin Tree Management LP now owns 3,564 shares of the specialty retailer’s stock valued at $49,000 after acquiring an additional 2,364 shares during the last quarter.
About KAR Auction Services
KAR Auction Services, Inc, together with its subsidiaries, used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions 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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