Shares of KAR Auction Services Inc. (NYSE:KAR) saw strong trading volume on Thursday . 1,014,616 shares were traded during mid-day trading, a decline of 14% from the previous session’s volume of 1,173,237 shares.The stock last traded at $42.22 and had previously closed at $42.62.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. restated a “buy” rating on shares of KAR Auction Services in a report on Wednesday, May 4th. Northcoast Research cut shares of KAR Auction Services from a “buy” rating to a “neutral” rating in a report on Thursday. Sterne Agee CRT lowered their price target on shares of KAR Auction Services from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, May 2nd. Jefferies Group restated a “buy” rating and issued a $47.00 price target (up from $45.00) on shares of KAR Auction Services in a report on Thursday, May 5th. Finally, Zacks Investment Research upgraded shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday, July 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $42.17.

The company’s 50-day moving average is $40.97 and its 200 day moving average is $37.63. The company has a market capitalization of $5.83 billion and a PE ratio of 27.05.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. The company earned $745 million during the quarter, compared to analysts’ expectations of $695.79 million. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. On average, equities research analysts anticipate that KAR Auction Services Inc. will post $2.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 22nd were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, June 20th. This represents a $1.16 dividend on an annualized basis and a yield of 2.73%.

In other KAR Auction Services news, insider Thomas J. Caruso sold 48,860 shares of the business’s stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $41.14, for a total transaction of $2,010,100.40. Following the sale, the insider now directly owns 13,585 shares in the company, valued at $558,886.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Vignes sold 5,429 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $40.55, for a total transaction of $220,145.95. The disclosure for this sale can be found here.

Other hedge funds have modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of KAR Auction Services by 2.4% in the fourth quarter. Victory Capital Management Inc. now owns 27,216 shares of the company’s stock worth $1,008,000 after buying an additional 641 shares during the period. Rhumbline Advisers raised its stake in shares of KAR Auction Services by 0.9% in the fourth quarter. Rhumbline Advisers now owns 114,971 shares of the company’s stock worth $4,257,000 after buying an additional 995 shares during the period. Suntrust Banks Inc. raised its stake in shares of KAR Auction Services by 8.1% in the fourth quarter. Suntrust Banks Inc. now owns 34,119 shares of the company’s stock worth $1,263,000 after buying an additional 2,556 shares during the period. MUFG Americas raised its stake in shares of KAR Auction Services by 5.3% in the third quarter. MUFG Americas now owns 55,743 shares of the company’s stock worth $1,994,000 after buying an additional 2,810 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of KAR Auction Services by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,666,592 shares of the company’s stock worth $61,716,000 after buying an additional 22,281 shares during the period.

KAR Auction Services, Inc is a provider of vehicle auction services in North America. We operate as three reportable business segments: ADESA, Inc (ADESA Auctions), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC). ADESA Auctions is a provider of whole car auctions and related services to the vehicle remarketing industry in North America.

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