Karooooo (NASDAQ:KARO) Stock Rating Lowered by Zacks Research

Karooooo (NASDAQ:KARO) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other analysts have also recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $53.00 price objective (up from $43.00) on shares of Karooooo in a research note on Thursday, June 26th. UBS Group began coverage on Karooooo in a report on Friday, August 29th. They issued a “buy” rating and a $60.00 target price on the stock. Raymond James Financial restated an “outperform” rating and set a $60.00 price target (up from $58.00) on shares of Karooooo in a research note on Thursday, July 24th. Wall Street Zen downgraded Karooooo from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Needham & Company LLC began coverage on Karooooo in a research note on Wednesday, July 16th. They issued a “buy” rating and a $60.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.25.

Karooooo Trading Down 1.1%

NASDAQ KARO opened at $54.76 on Thursday. The company has a market cap of $1.69 billion, a P/E ratio of 31.84 and a beta of 1.08. Karooooo has a 12 month low of $35.51 and a 12 month high of $63.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.16. The company has a 50-day moving average of $49.63 and a 200-day moving average of $47.23.

Karooooo (NASDAQ:KARO) last released its earnings results on Tuesday, July 22nd. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. Karooooo had a net margin of 20.23% and a return on equity of 31.48%. The business had revenue of $70.49 million for the quarter, compared to analysts’ expectations of $1.25 billion. Karooooo has set its FY 2026 guidance at 1.760-1.920 EPS. As a group, equities analysts predict that Karooooo will post 1.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Karooooo during the 2nd quarter valued at $156,000. New York State Common Retirement Fund boosted its position in Karooooo by 465.6% in the 2nd quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock valued at $160,000 after buying an additional 2,682 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in shares of Karooooo during the second quarter valued at about $214,000. BNP Paribas Financial Markets purchased a new stake in shares of Karooooo during the fourth quarter worth about $210,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Karooooo by 17.5% in the fourth quarter. Lazard Asset Management LLC now owns 4,961 shares of the company’s stock worth $223,000 after acquiring an additional 740 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.