KAR Auction Services (NYSE:KAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $57.00 price objective on the specialty retailer’s stock. Zacks Investment Research‘s target price points to a potential upside of 16.33% from the stock’s current price.

According to Zacks, “KAR Auction Services, Inc., through its subsidiaries, operates as a used vehicle and salvage auto auction company in North America. The company operates in three segments: ADESA, IAAI, and AFC. The ADESA segment provides whole car auctions and related services to commercial fleet operators, financial institutions, rental car companies, used vehicle dealers, vehicle manufacturers and their captive finance companies, and franchised and independent used vehicle dealers. This segment also provides value-added ancillary services, such as inspections, storage, transportation, reconditioning and titling, and other administrative services. The IAAI segment offers salvage vehicle auctions and related services. The AFC segment offers short-term and inventory-secured financing, known as floorplan financing, to independent used vehicle dealers. KAR Auction Services, Inc. is headquartered in Carmel, Indiana. “

KAR has been the subject of a number of other research reports. Stephens set a $57.00 price objective on shares of KAR Auction Services and gave the company a “hold” rating in a report on Wednesday, January 17th. Gabelli cut shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of KAR Auction Services from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $54.40.

KAR Auction Services (NYSE:KAR) opened at $49.00 on Wednesday. KAR Auction Services has a fifty-two week low of $40.27 and a fifty-two week high of $55.19. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $6,630.00, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 1.77 and a beta of 1.10.

In other news, EVP Lisa A. Price sold 6,563 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $54.05, for a total transaction of $354,730.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Benjamin Skuy sold 12,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $48.50, for a total transaction of $582,000.00. The disclosure for this sale can be found here. Insiders have sold 38,563 shares of company stock valued at $1,929,930 in the last three months. Corporate insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Archford Capital Strategies LLC boosted its position in KAR Auction Services by 832.0% during the second quarter. Archford Capital Strategies LLC now owns 932 shares of the specialty retailer’s stock worth $103,000 after acquiring an additional 832 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in KAR Auction Services during the fourth quarter worth about $103,000. SG Americas Securities LLC acquired a new position in KAR Auction Services during the fourth quarter worth about $105,000. Cerebellum GP LLC acquired a new position in KAR Auction Services during the fourth quarter worth about $127,000. Finally, KBC Group NV boosted its position in KAR Auction Services by 81.5% during the third quarter. KBC Group NV now owns 2,696 shares of the specialty retailer’s stock worth $129,000 after acquiring an additional 1,211 shares during the last quarter. Hedge funds and other institutional investors own 99.31% of the company’s stock.

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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).

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