Karooooo (NASDAQ:KARO) Hits New 12-Month High – Time to Buy?

Karooooo Ltd. (NASDAQ:KARO)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $66.23 and last traded at $64.2790, with a volume of 14552 shares changing hands. The stock had previously closed at $64.03.

Analyst Ratings Changes

Several analysts have commented on KARO shares. Wall Street Zen cut Karooooo from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. Roth Capital reaffirmed a “buy” rating and set a $74.00 price target on shares of Karooooo in a research report on Friday, July 17th. Needham & Company LLC increased their price target on shares of Karooooo from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Zacks Research raised Karooooo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $73.50.

Karooooo Stock Up 1.3%

The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 33.14 and a beta of 0.89. The firm has a 50-day moving average of $53.10 and a 200 day moving average of $49.97. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings data on Thursday, July 16th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The company had revenue of $96.26 million for the quarter. On average, sell-side analysts anticipate that Karooooo Ltd. will post 2.41 earnings per share for the current year.

Karooooo Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, July 27th. Shareholders of record on Friday, July 17th were issued a $1.50 dividend. The ex-dividend date was Friday, July 17th. This represents a yield of 239.0%. This is an increase from Karooooo’s previous annual dividend of $1.25. Karooooo’s dividend payout ratio (DPR) is presently 76.14%.

Insiders Place Their Bets

In other Karooooo news, CEO Isaias Jose Calisto sold 31,897 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $64.43, for a total value of $2,055,123.71. Following the completion of the transaction, the chief executive officer directly owned 17,838,112 shares of the company’s stock, valued at $1,149,309,556.16. This represents a 0.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 98,476 shares of company stock valued at $6,295,981. Corporate insiders own 74.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KARO. Fideuram Asset Management Ireland dac acquired a new stake in Karooooo during the 4th quarter valued at approximately $80,000. Royal Bank of Canada boosted its stake in shares of Karooooo by 852.9% during the 4th quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock valued at $135,000 after buying an additional 2,644 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Karooooo during the second quarter worth approximately $156,000. New York State Common Retirement Fund grew its position in shares of Karooooo by 465.6% during the second quarter. New York State Common Retirement Fund now owns 3,258 shares of the company’s stock worth $160,000 after buying an additional 2,682 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in shares of Karooooo in the second quarter worth $214,000.

Karooooo Company Profile

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.