Karooooo Ltd. (NASDAQ:KARO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Karooooo Ltd. (NASDAQ:KARO) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $73.50.

Several research analysts have recently commented on KARO shares. UBS Group restated a “buy” rating and set a $75.00 price target on shares of Karooooo in a research note on Thursday, July 16th. Needham & Company LLC lifted their price objective on shares of Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Karooooo from a “hold” rating to a “buy” rating in a report on Monday, August 17th. Roth Capital reissued a “buy” rating and set a $74.00 target price on shares of Karooooo in a research report on Friday, July 17th. Finally, Zacks Research lowered Karooooo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th.

Karooooo Stock Performance

Shares of NASDAQ KARO opened at $65.48 on Tuesday. The business has a 50 day simple moving average of $62.06 and a 200 day simple moving average of $53.03. Karooooo has a 52 week low of $41.25 and a 52 week high of $68.80. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 33.24 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.02.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Thursday, July 16th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.08. The firm had revenue of $96.26 million for the quarter. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. On average, research analysts predict that Karooooo will post 2.41 earnings per share for the current fiscal year.

Insider Activity at Karooooo

In other news, CEO Isaias Calisto sold 33,833 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $66.14, for a total transaction of $2,237,714.62. Following the transaction, the chief executive officer owned 17,714,186 shares of the company’s stock, valued at approximately $1,171,616,262.04. This represents a 0.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 277,617 shares of company stock worth $17,840,247. Corporate insiders own 74.73% of the company’s stock.

Institutional Investors Weigh In On Karooooo

A number of large investors have recently added to or reduced their stakes in KARO. Capricorn Fund Managers Ltd grew its holdings in Karooooo by 16.9% during the first quarter. Capricorn Fund Managers Ltd now owns 278,346 shares of the company’s stock valued at $13,873,000 after purchasing an additional 40,268 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its stake in shares of Karooooo by 22.9% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company’s stock worth $3,566,000 after buying an additional 14,600 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Karooooo by 115.4% in the third quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock worth $4,234,000 after buying an additional 39,709 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Karooooo by 699.1% during the 2nd quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock worth $2,723,000 after buying an additional 48,644 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Karooooo by 43.1% during the 4th quarter. First Trust Advisors LP now owns 46,767 shares of the company’s stock worth $2,128,000 after buying an additional 14,078 shares during the period.

About Karooooo

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.