Lisa A. Price Sells 5,140 Shares of KAR Auction Services Inc. (KAR) Stock
KAR Auction Services Inc. (NYSE:KAR) EVP Lisa A. Price sold 5,140 shares of KAR Auction Services stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $44.00, for a total value of $226,160.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of KAR Auction Services Inc. (NYSE:KAR) opened at 43.45 on Friday. The stock has a market cap of $5.99 billion, a PE ratio of 27.19 and a beta of 1.37. The firm has a 50-day moving average price of $42.57 and a 200 day moving average price of $40.77. KAR Auction Services Inc. has a 12-month low of $31.54 and a 12-month 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. KAR Auction Services had a return on equity of 19.03% and a net margin of 7.79%. The business earned $771.80 million during the quarter, compared to the consensus estimate of $757.67 million. During the same period in the previous year, the company posted $0.51 EPS. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. Equities research analysts predict that KAR Auction Services Inc. will post $2.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Wednesday, September 21st were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, September 19th. This represents a $1.16 annualized dividend and a dividend yield of 2.67%. KAR Auction Services’s payout ratio is 72.50%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in KAR Auction Services by 29.9% in the third quarter. BNP Paribas Arbitrage SA now owns 144,104 shares of the company’s stock valued at $6,220,000 after buying an additional 33,165 shares during the last quarter. Macquarie Group Ltd. acquired a new position in KAR Auction Services during the second quarter valued at about $1,754,000. KAMES CAPITAL plc acquired a new position in KAR Auction Services during the second quarter valued at about $34,885,000. Braun Stacey Associates Inc. acquired a new position in KAR Auction Services during the second quarter valued at about $340,000. Finally, Calvert Investment Management Inc. boosted its position in KAR Auction Services by 9.6% in the second quarter. Calvert Investment Management Inc. now owns 11,087 shares of the company’s stock valued at $463,000 after buying an additional 972 shares during the last quarter.
Several research firms have recently issued reports on KAR. Susquehanna began coverage on KAR Auction Services in a research note on Friday, August 26th. They set a “positive” rating and a $50.00 price target for the company. Macquarie reaffirmed an “outperform” rating on shares of KAR Auction Services in a research note on Monday, August 29th. Zacks Investment Research downgraded KAR Auction Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Jefferies Group lifted their price target on KAR Auction Services from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of KAR Auction Services in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. KAR Auction Services currently has an average rating of “Buy” and an average target price of $43.71.
KAR Auction Services Company Profile
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).
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