BidaskClub upgraded shares of KAR Auction Services, Inc (NYSE:KAR) from a sell rating to a hold rating in a report released on Monday morning.

Several other analysts have also recently weighed in on KAR. Gabelli began coverage on shares of KAR Auction Services in a research note on Tuesday, July 4th. They issued a buy rating and a $62.00 price objective on the stock. 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $53.25.

KAR Auction Services (NYSE KAR) traded up 0.19% on Monday, reaching $41.65. The company’s stock had a trading volume of 646,664 shares. KAR Auction Services has a 12 month low of $38.16 and a 12 month high of $47.03. The firm’s 50 day moving average is $41.88 and its 200-day moving average is $43.58. The firm has a market cap of $5.71 billion, a P/E ratio of 25.09 and a beta of 1.12.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, May 9th. The specialty retailer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. KAR Auction Services had a net margin of 7.16% and a return on equity of 20.54%. The company had revenue of $866.60 million for the quarter, compared to analysts’ expectations of $848.73 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. KAR Auction Services’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities research analysts anticipate that KAR Auction Services will post $2.22 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Wednesday, June 21st were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 19th. This represents a $1.28 annualized dividend and a dividend yield of 3.07%. KAR Auction Services’s dividend payout ratio is 77.11%.

In related news, COO Donald S. Gottwald sold 18,125 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $44.29, for a total value of $802,756.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John W. Kett sold 9,913 shares of the business’s stock in a transaction 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 in the company, valued at approximately $2,275,275.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,057 shares of company stock worth $2,079,634. 1.30% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. FMR LLC raised 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 in the last quarter. Vanguard Group Inc. raised 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 in the last quarter. BlackRock Inc. raised 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 in the last quarter. Principal Financial Group Inc. raised its position in shares of KAR Auction Services by 4.2% in the first quarter. Principal Financial Group Inc. now owns 4,948,630 shares of the specialty retailer’s stock valued at $216,107,000 after buying an additional 200,835 shares in the last quarter. Finally, OppenheimerFunds Inc. raised 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 in the last quarter.

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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