Karooooo Ltd. (NASDAQ:KARO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Karooooo Ltd. (NASDAQ:KARO) has been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $73.50.

Several research analysts recently issued reports on the stock. Roth Capital reissued a “buy” rating and issued a $74.00 price target on shares of Karooooo in a research report on Friday, July 17th. Raymond James Financial lifted their price objective on Karooooo from $60.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Zacks Research lowered Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Freedom Capital cut Karooooo from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, Wall Street Zen downgraded Karooooo from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th.

Karooooo Trading Up 1.8%

Shares of Karooooo stock opened at $63.89 on Friday. Karooooo has a 52-week low of $41.25 and a 52-week high of $67.14. The firm has a market capitalization of $1.97 billion, a PE ratio of 32.43 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01. The company’s fifty day moving average price is $56.29 and its two-hundred day moving average price is $51.23.

Karooooo (NASDAQ:KARO) last released its quarterly earnings data on Thursday, July 16th. The company reported $0.59 EPS for the quarter, topping 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 during the quarter. On average, analysts expect that Karooooo will post 2.41 EPS for the current year.

Insiders Place Their Bets

In other Karooooo news, CEO Isaias Jose Calisto sold 22,549 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $63.25, for a total transaction of $1,426,224.25. Following the completion of the transaction, the chief executive officer directly owned 17,660,358 shares in the company, valued at $1,117,017,643.50. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 257,842 shares of company stock valued at $16,585,553 in the last quarter. Corporate insiders own 74.73% of the company’s stock.

Institutional Investors Weigh In On Karooooo

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capricorn Fund Managers Ltd increased its position in shares of Karooooo by 16.9% during the 1st quarter. Capricorn Fund Managers Ltd now owns 278,346 shares of the company’s stock worth $13,873,000 after purchasing an additional 40,268 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its position in Karooooo by 22.9% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company’s stock valued at $3,566,000 after buying an additional 14,600 shares in the last quarter. Two Sigma Investments LP boosted its position in Karooooo by 115.4% in the third quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock valued at $4,234,000 after buying an additional 39,709 shares in the last quarter. Marshall Wace LLP grew its stake in Karooooo by 699.1% during the second quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock worth $2,723,000 after buying an additional 48,644 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Karooooo by 43.1% during the fourth quarter. First Trust Advisors LP now owns 46,767 shares of the company’s stock worth $2,128,000 after buying an additional 14,078 shares during the last quarter.

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.