Karooooo’s (KARO) Overweight Rating Reaffirmed at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Karooooo (NASDAQ:KARO) in a report released on Monday, Benzinga reports. The brokerage currently has a $31.00 target price on the stock.

Separately, Raymond James upped their target price on Karooooo from $26.00 to $29.00 and gave the company an outperform rating in a report on Wednesday, January 24th.

Karooooo Price Performance

Shares of NASDAQ:KARO opened at $31.25 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.38. The business has a fifty day moving average of $25.78 and a two-hundred day moving average of $24.91. Karooooo has a 52-week low of $18.59 and a 52-week high of $32.00.

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

Hedge Funds Weigh In On Karooooo

A number of hedge funds have recently modified their holdings of KARO. Barclays PLC grew its holdings in shares of 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 period. Gladius Capital Management LP grew its holdings in shares of Karooooo by 7.9% during the 3rd quarter. Gladius Capital Management LP now owns 6,197 shares of the company’s stock worth $123,000 after purchasing an additional 454 shares during the period. Schwartz Investment Counsel Inc. grew its holdings in shares of Karooooo by 2.0% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 51,685 shares of the company’s stock worth $1,029,000 after purchasing an additional 1,000 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its stake in Karooooo by 17.9% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 196,873 shares of the company’s stock worth $3,920,000 after acquiring an additional 29,849 shares in the last quarter.

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.