According to Zacks, “KAR Auction Services, Inc., through its subsidiaries, operates as a used vehicle and salvage auto auction company in North America. The company operates in three segments: ADESA, IAAI, and AFC. The ADESA segment provides whole car auctions and related services to commercial fleet operators, financial institutions, rental car companies, used vehicle dealers, vehicle manufacturers and their captive finance companies, and franchised and independent used vehicle dealers. This segment also provides value-added ancillary services, such as inspections, storage, transportation, reconditioning and titling, and other administrative services. The IAAI segment offers salvage vehicle auctions and related services. The AFC segment offers short-term and inventory-secured financing, known as floorplan financing, to independent used vehicle dealers. KAR Auction Services, Inc. is headquartered in Carmel, Indiana. “
KAR has been the subject of a number of other research reports. CJS Securities lowered shares of KAR Auction Services from an “outperform” rating to a “market perform” rating in a report on Thursday. ValuEngine raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.58.
Shares of KAR Auction Services stock traded down $0.17 during trading hours on Friday, reaching $21.50. 2,504,173 shares of the company’s stock were exchanged, compared to its average volume of 3,615,075. KAR Auction Services has a 1 year low of $16.41 and a 1 year high of $28.61. The company has a market capitalization of $2.86 billion, a P/E ratio of 7.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.06. The business has a fifty day moving average of $24.56 and a two-hundred day moving average of $36.11. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.00.
KAR Auction Services (NYSE:KAR) last released its earnings results on Tuesday, November 5th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). KAR Auction Services had a return on equity of 16.83% and a net margin of 6.95%. The business had revenue of $701.90 million for the quarter, compared to analysts’ expectations of $697.46 million. During the same period in the previous year, the company earned $0.70 EPS. KAR Auction Services’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, research analysts predict that KAR Auction Services will post 1.16 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of KAR Auction Services by 42.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,664,232 shares of the specialty retailer’s stock valued at $141,606,000 after purchasing an additional 1,676,914 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of KAR Auction Services in the second quarter valued at about $126,648,000. Mawer Investment Management Ltd. grew its holdings in shares of KAR Auction Services by 7.9% in the second quarter. Mawer Investment Management Ltd. now owns 3,978,332 shares of the specialty retailer’s stock valued at $99,458,000 after purchasing an additional 290,995 shares during the period. First Manhattan Co. grew its holdings in shares of KAR Auction Services by 21.9% in the second quarter. First Manhattan Co. now owns 3,974,262 shares of the specialty retailer’s stock valued at $99,356,000 after purchasing an additional 712,743 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of KAR Auction Services by 44.5% in the second quarter. Janus Henderson Group PLC now owns 3,416,468 shares of the specialty retailer’s stock valued at $85,412,000 after purchasing an additional 1,052,915 shares during the period. 99.42% of the stock is owned by hedge funds and other institutional investors.
KAR Auction Services Company Profile
KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.
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