KAR Auction Services, Inc. (NYSE:KAR) Receives $29.60 Consensus Target Price from Brokerages

KAR Auction Services, Inc. (NYSE:KAR) has received a consensus rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $29.60.

A number of research analysts recently commented on KAR shares. Bank of America upgraded shares of KAR Auction Services from a “neutral” rating to a “buy” rating in a research note on Thursday, May 27th. Zacks Investment Research downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating in a report on Saturday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of KAR Auction Services from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, May 24th.

Large investors have recently modified their holdings of the stock. Dark Forest Capital Management LP bought a new position in KAR Auction Services in the 2nd quarter valued at approximately $29,000. Ameritas Investment Company LLC bought a new position in KAR Auction Services in the 1st quarter valued at approximately $30,000. IFP Advisors Inc lifted its stake in KAR Auction Services by 49.0% in the 1st quarter. IFP Advisors Inc now owns 2,129 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 700 shares during the last quarter. Huntington National Bank bought a new position in KAR Auction Services in the 2nd quarter valued at approximately $45,000. Finally, Parkside Financial Bank & Trust lifted its stake in KAR Auction Services by 50.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 4,410 shares of the specialty retailer’s stock valued at $66,000 after purchasing an additional 1,485 shares during the last quarter.

Shares of KAR Auction Services stock traded up $0.21 during midday trading on Wednesday, reaching $16.38. The company had a trading volume of 37,811 shares, compared to its average volume of 2,026,022. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 47.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.53. The stock has a fifty day simple moving average of $17.07 and a 200 day simple moving average of $16.68. KAR Auction Services has a 1-year low of $13.55 and a 1-year high of $20.85.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Monday, August 2nd. The specialty retailer reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The firm had revenue of $585.40 million for the quarter, compared to the consensus estimate of $596.75 million. KAR Auction Services had a return on equity of 9.71% and a net margin of 4.03%. Sell-side analysts expect that KAR Auction Services will post 0.95 earnings per share for the current year.

About KAR Auction Services

KAR Auction Services, Inc engages in the provision of used car auction services and salvage auction services in North America and the United Kingdom. It operates through the following segments: ADESA Auctions and Automotive Finance Corporation (AFC). The ADESA segment provides whole car auctions and related services to the vehicle remarketing industry in North America.

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Analyst Recommendations for KAR Auction Services (NYSE:KAR)

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