Analysts Set KAR Auction Services Inc (NYSE:KAR) Target Price at $20.20

KAR Auction Services Inc (NYSE:KAR) has received an average recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $20.20.

Several research analysts have recently weighed in on KAR shares. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Thursday, July 23rd. ValuEngine raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. SunTrust Banks boosted their price objective on shares of KAR Auction Services from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. upgraded shares of KAR Auction Services from a “neutral” rating to an “overweight” rating and set a $19.00 price objective on the stock in a report on Thursday, April 23rd. Finally, Barrington Research restated a “buy” rating and issued a $25.00 price objective on shares of KAR Auction Services in a report on Monday, May 4th.

Shares of KAR stock opened at $15.13 on Tuesday. The company’s 50-day moving average price is $14.14 and its 200-day moving average price is $15.96. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.41. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 7.56 and a beta of 1.40. KAR Auction Services has a twelve month low of $9.41 and a twelve month high of $28.61.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Thursday, May 7th. The specialty retailer reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.07). The firm had revenue of $645.50 million for the quarter, compared to analyst estimates of $632.59 million. KAR Auction Services had a net margin of 4.15% and a return on equity of 7.42%. The company’s revenue was down 38.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. As a group, equities research analysts predict that KAR Auction Services will post 0.36 EPS for the current year.

A number of large investors have recently modified their holdings of KAR. Ameritas Investment Company LLC purchased a new stake in KAR Auction Services during the first quarter worth about $26,000. Parkside Financial Bank & Trust increased its stake in KAR Auction Services by 33.9% during the first quarter. Parkside Financial Bank & Trust now owns 3,068 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 777 shares during the period. FDx Advisors Inc. increased its stake in KAR Auction Services by 400.9% during the first quarter. FDx Advisors Inc. now owns 51,053 shares of the specialty retailer’s stock worth $77,000 after purchasing an additional 40,860 shares during the period. San Francisco Sentry Investment Group CA increased its stake in KAR Auction Services by 22.7% during the first quarter. San Francisco Sentry Investment Group CA now owns 7,255 shares of the specialty retailer’s stock worth $87,000 after purchasing an additional 1,340 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in KAR Auction Services by 12.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,181 shares of the specialty retailer’s stock worth $122,000 after purchasing an additional 1,104 shares during the period.

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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Analyst Recommendations for KAR Auction Services (NYSE:KAR)

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