KAR Auction Services Inc (NYSE:KAR) has earned an average rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $52.80.

Several equities research analysts recently commented on the company. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday. Gabelli downgraded KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. raised their target price on KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 30th.

In other KAR Auction Services news, EVP Benjamin Skuy sold 12,000 shares of KAR Auction Services stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total transaction of $582,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Donald S. Gottwald sold 10,000 shares of KAR Auction Services stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $48.14, for a total value of $481,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock worth $1,575,200 over the last 90 days. 1.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Trust N.A. increased its holdings in shares of KAR Auction Services by 29.0% in the 3rd quarter. Raymond James Trust N.A. now owns 9,705 shares of the specialty retailer’s stock valued at $463,000 after acquiring an additional 2,179 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of KAR Auction Services by 105.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,063 shares of the specialty retailer’s stock valued at $171,000 after acquiring an additional 2,087 shares during the last quarter. Boston Partners increased its holdings in shares of KAR Auction Services by 15.4% in the 3rd quarter. Boston Partners now owns 640,752 shares of the specialty retailer’s stock valued at $30,589,000 after acquiring an additional 85,676 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of KAR Auction Services by 39.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 693,871 shares of the specialty retailer’s stock valued at $29,125,000 after acquiring an additional 194,621 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of KAR Auction Services by 26.9% in the 2nd quarter. Amalgamated Bank now owns 25,512 shares of the specialty retailer’s stock valued at $1,071,000 after acquiring an additional 5,402 shares during the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.

Shares of KAR Auction Services (NYSE:KAR) opened at $53.27 on Monday. The company has a market capitalization of $7,205.56, a PE ratio of 31.34, a P/E/G ratio of 1.52 and a beta of 1.08. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90. KAR Auction Services has a twelve month low of $40.27 and a twelve month high of $53.34.

KAR Auction Services (NYSE:KAR) last announced its earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. The business had revenue of $843.00 million for the quarter, compared to the consensus estimate of $846.42 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. research analysts predict that KAR Auction Services will post 2.36 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, December 19th. This is an increase from KAR Auction Services’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 2.63%. KAR Auction Services’s payout ratio is currently 82.35%.

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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).

Analyst Recommendations for KAR Auction Services (NYSE:KAR)

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