Karooooo Ltd. (NASDAQ:KARO – Get Free Report)’s stock price was down 7.4% on Thursday following a dissappointing earnings announcement. The company traded as low as $43.50 and last traded at $43.95. Approximately 55,749 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 58,889 shares. The stock had previously closed at $47.47.
The company reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $90.93 million during the quarter. Karooooo had a net margin of 19.45% and a return on equity of 31.83%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Karooooo from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. Finally, Roth Mkm assumed coverage on shares of Karooooo in a report on Tuesday, February 17th. They issued a “buy” rating and a $62.00 price target for the company. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.00.
Institutional Investors Weigh In On Karooooo
A number of hedge funds have recently made changes to their positions in KARO. Capricorn Fund Managers Ltd increased its position in shares of Karooooo by 39.4% during the 4th quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock worth $10,833,000 after purchasing an additional 67,322 shares in the last quarter. Marshall Wace LLP increased its position in Karooooo by 699.1% in the 2nd quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock valued at $2,723,000 after acquiring an additional 48,644 shares in the last quarter. Two Sigma Investments LP increased its position in Karooooo by 115.4% in the 3rd quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock valued at $4,234,000 after acquiring an additional 39,709 shares in the last quarter. Aurora Investment Counsel acquired a new stake in Karooooo in the 4th quarter valued at about $1,651,000. Finally, Russell Investments Group Ltd. acquired a new stake in Karooooo in the 2nd quarter valued at about $1,378,000.
Karooooo Stock Down 9.0%
The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 23.39 and a beta of 0.92. The firm’s 50-day simple moving average is $48.93 and its two-hundred day simple moving average is $47.21.
Karooooo Company Profile
Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.
Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.
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