Karooooo (NASDAQ:KARO) Sets New 12-Month High – What’s Next?

Shares of Karooooo Ltd. (NASDAQ:KARO) reached a new 52-week high on Friday . The stock traded as high as $51.00 and last traded at $50.25, with a volume of 52453 shares traded. The stock had previously closed at $44.90.

Analyst Upgrades and Downgrades

Separately, Raymond James reissued an “outperform” rating and issued a $51.00 price objective (up previously from $46.00) on shares of Karooooo in a research report on Thursday, January 16th.

Karooooo Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25. The company has a market cap of $1.55 billion, a P/E ratio of 32.21 and a beta of 1.03. The firm has a 50 day moving average price of $41.87 and a two-hundred day moving average price of $43.85.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. The company had revenue of $65.12 million during the quarter, compared to the consensus estimate of $1.18 billion. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. During the same quarter in the prior year, the company earned $6.81 EPS. On average, analysts predict that Karooooo Ltd. will post 1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Capricorn Fund Managers Ltd bought a new position in Karooooo in the 4th quarter worth about $6,146,000. Raymond James Financial Inc. bought a new position in Karooooo in the 4th quarter worth about $635,000. JPMorgan Chase & Co. boosted its stake in Karooooo by 1,727.0% in the 4th quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company’s stock worth $403,000 after purchasing an additional 8,445 shares during the period. New York State Common Retirement Fund bought a new position in Karooooo in the 4th quarter worth about $26,000. Finally, Schwartz Investment Counsel Inc. boosted its stake in Karooooo by 17.2% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company’s stock worth $2,735,000 after purchasing an additional 8,881 shares during the period.

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.