KAR Auction Services Inc. (KAR) EVP Lisa A. Price Sells 5,140 Shares
KAR Auction Services Inc. (NYSE:KAR) EVP Lisa A. Price sold 5,140 shares of the company’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $44.00, for a total value of $226,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
KAR Auction Services Inc. (NYSE:KAR) opened at 43.45 on Friday. The stock’s 50 day moving average price is $42.57 and its 200 day moving average price is $40.77. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 27.19 and a beta of 1.37. KAR Auction Services Inc. has a 52 week low of $31.54 and a 52 week high of $44.10.
KAR Auction Services (NYSE:KAR) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The firm had revenue of $771.80 million for the quarter, compared to analyst estimates of $757.67 million. KAR Auction Services had a return on equity of 19.03% and a net margin of 7.79%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share. On average, equities research analysts predict that KAR Auction Services Inc. will post $2.13 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Wednesday, September 21st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 19th. This represents a $1.16 annualized dividend and a yield of 2.67%. KAR Auction Services’s payout ratio is currently 72.50%.
Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in KAR Auction Services during the first quarter valued at $823,000. Meeder Asset Management Inc. raised its position in KAR Auction Services by 3.7% in the first quarter. Meeder Asset Management Inc. now owns 12,810 shares of the company’s stock worth $488,000 after buying an additional 452 shares during the period. State Street Corp raised its position in KAR Auction Services by 3.5% in the first quarter. State Street Corp now owns 1,553,249 shares of the company’s stock worth $59,240,000 after buying an additional 52,409 shares during the period. Motley Fool Wealth Management LLC raised its position in KAR Auction Services by 10.4% in the first quarter. Motley Fool Wealth Management LLC now owns 113,160 shares of the company’s stock worth $4,316,000 after buying an additional 10,617 shares during the period. Finally, Huntington Asset Advisors Inc. bought a new position in KAR Auction Services during the first quarter worth approximately $2,278,000.
KAR has been the topic of a number of analyst reports. Jefferies Group upped their price target on KAR Auction Services from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded KAR Auction Services from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Wednesday, July 6th. Northcoast Research cut KAR Auction Services from a “buy” rating to a “neutral” rating in a research report on Thursday, July 14th. Finally, Macquarie reiterated an “outperform” rating on shares of KAR Auction Services in a research report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $43.71.
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), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
Receive News & Stock Ratings for KAR Auction Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KAR Auction Services Inc. and related stocks with our FREE daily email newsletter.