KAR Auction Services (NYSE:KAR) Trading 4.3% Higher

KAR Auction Services, Inc. (NYSE:KAR)’s stock price traded up 4.3% during mid-day trading on Monday . The company traded as high as $17.83 and last traded at $17.71. 46,488 shares were traded during mid-day trading, a decline of 98% from the average session volume of 2,376,070 shares. The stock had previously closed at $16.98.

A number of research analysts have recently issued reports on the company. Stephens reiterated an “equal weight” rating and issued a $16.00 price target (down from $23.00) on shares of KAR Auction Services in a report on Thursday, February 25th. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Friday, May 7th. Truist cut KAR Auction Services from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research report on Wednesday, February 17th. Finally, Guggenheim cut KAR Auction Services from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a research report on Wednesday, February 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $26.25.

The stock has a 50 day simple moving average of $15.47 and a two-hundred day simple moving average of $16.99. The firm has a market cap of $2.19 billion, a PE ratio of 117.27, a price-to-earnings-growth ratio of 0.92 and a beta of 1.59. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.56 and a current ratio of 1.56.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Monday, May 3rd. The specialty retailer reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.34. KAR Auction Services had a return on equity of 6.50% and a net margin of 1.61%. The firm had revenue of $581.60 million during the quarter, compared to analyst estimates of $557.55 million. During the same quarter in the previous year, the business earned $0.09 EPS. KAR Auction Services’s revenue for the quarter was down 9.9% compared to the same quarter last year. Equities research analysts forecast that KAR Auction Services, Inc. will post 0.93 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. IFP Advisors Inc boosted its holdings in shares of KAR Auction Services by 49.0% during the 1st quarter. IFP Advisors Inc now owns 2,129 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 700 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in KAR Auction Services by 50.8% during the first quarter. Parkside Financial Bank & Trust now owns 4,410 shares of the specialty retailer’s stock worth $66,000 after purchasing an additional 1,485 shares in the last quarter. Cibc World Markets Corp acquired a new position in KAR Auction Services during the first quarter worth $209,000. Cetera Investment Advisers purchased a new position in KAR Auction Services in the fourth quarter valued at $216,000. Finally, First Citizens Bank & Trust Co. purchased a new position in KAR Auction Services in the first quarter valued at about $232,000.

About KAR Auction Services (NYSE:KAR)

KAR Auction Services, Inc, together with its subsidiaries, provides 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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