KAR Auction Services, Inc (NYSE:KAR) released its earnings results on Tuesday. The specialty retailer reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.07, Briefing.com reports. KAR Auction Services had a net margin of 7.16% and a return on equity of 20.54%. The business had revenue of $858 million during the quarter, compared to analysts’ expectations of $850.67 million. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. KAR Auction Services updated its FY17 guidance to $2.15-2.25 EPS.

KAR Auction Services (NYSE:KAR) traded up 7.82% on Wednesday, reaching $43.73. 2,746,813 shares of the company traded hands. The firm has a market cap of $6.00 billion, a P/E ratio of 26.34 and a beta of 1.12. KAR Auction Services has a 52-week low of $38.16 and a 52-week high of $47.03. The stock has a 50-day moving average price of $41.70 and a 200-day moving average price of $43.54.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Tuesday, September 19th. KAR Auction Services’s dividend payout ratio (DPR) is presently 77.11%.

In other news, CEO John W. Kett sold 10,011 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $42.01, for a total value of $420,562.11. Following the completion of the transaction, the chief executive officer now directly owns 65,982 shares in the company, valued at approximately $2,771,903.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John W. Kett sold 9,913 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $43.92, for a total transaction of $435,378.96. Following the completion of the transaction, the chief executive officer now owns 51,805 shares of the company’s stock, valued at $2,275,275.60. The disclosure for this sale can be found here. Insiders sold a total of 29,932 shares of company stock valued at $1,276,878 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Several institutional investors have recently modified their holdings of KAR. FMR LLC boosted its position in shares of KAR Auction Services by 9.7% in the first quarter. FMR LLC now owns 16,076,350 shares of the specialty retailer’s stock valued at $702,054,000 after buying an additional 1,421,328 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of KAR Auction Services by 4.8% in the first quarter. Vanguard Group Inc. now owns 11,286,742 shares of the specialty retailer’s stock valued at $492,891,000 after buying an additional 521,526 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of KAR Auction Services by 18.6% in the second quarter. Principal Financial Group Inc. now owns 5,867,365 shares of the specialty retailer’s stock valued at $246,255,000 after buying an additional 918,735 shares during the last quarter. BlackRock Inc. boosted its position in shares of KAR Auction Services by 20,047.2% in the first quarter. BlackRock Inc. now owns 5,618,436 shares of the specialty retailer’s stock valued at $245,357,000 after buying an additional 5,590,549 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of KAR Auction Services by 27.9% in the first quarter. OppenheimerFunds Inc. now owns 4,318,549 shares of the specialty retailer’s stock valued at $188,592,000 after buying an additional 943,023 shares during the last quarter.

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Several equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Gabelli assumed coverage on shares of KAR Auction Services in a research note on Tuesday, July 4th. They issued a “buy” rating and a $62.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $54.33.

About KAR Auction Services

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

Earnings History for KAR Auction Services (NYSE:KAR)

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