Karooooo (NASDAQ:KARO) Reaches New 1-Year High at $27.10

Karooooo Ltd. (NASDAQ:KARO) hit a new 52-week high on Monday . The company traded as high as $27.10 and last traded at $27.09, with a volume of 5803 shares traded. The stock had previously closed at $27.09.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KARO shares. Raymond James boosted their price target on Karooooo from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and set a $31.00 price target on shares of Karooooo in a research report on Monday.

Karooooo Price Performance

The firm has a 50 day simple moving average of $25.66 and a two-hundred day simple moving average of $24.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.38.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings results on Monday, January 22nd. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Karooooo had a return on equity of 25.26% and a net margin of 16.67%. The company had revenue of $57.36 million during the quarter, compared to analysts’ expectations of $51.99 million. As a group, analysts predict that Karooooo Ltd. will post 1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Barclays PLC raised its position in Karooooo by 430.5% during the 2nd quarter. Barclays PLC now owns 4,546 shares of the company’s stock worth $106,000 after purchasing an additional 3,689 shares during the last quarter. Gladius Capital Management LP grew its stake in shares of Karooooo by 7.9% in the 3rd quarter. Gladius Capital Management LP now owns 6,197 shares of the company’s stock valued at $123,000 after buying an additional 454 shares during the period. Finally, Jupiter Asset Management Ltd. grew its stake in shares of Karooooo by 17.9% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 196,873 shares of the company’s stock valued at $3,920,000 after buying an additional 29,849 shares during the period.

About Karooooo

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.