Karooooo (NASDAQ:KARO) Receives Overweight Rating from Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Karooooo (NASDAQ:KARO) in a research note released on Monday morning, Benzinga reports. Morgan Stanley currently has a $31.00 price objective on the stock.

Separately, Raymond James raised their price objective on shares of Karooooo from $26.00 to $29.00 and gave the company an outperform rating in a research report on Wednesday, January 24th.

Karooooo Price Performance

KARO opened at $27.09 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Karooooo has a 1-year low of $18.59 and a 1-year high of $27.10. The company has a market capitalization of $579.18 million, a PE ratio of 22.96 and a beta of 1.15. The firm’s 50 day simple moving average is $25.62 and its two-hundred day simple moving average is $24.83.

Karooooo (NASDAQ:KARO) last released its quarterly earnings results on Monday, January 22nd. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. Karooooo had a net margin of 16.67% and a return on equity of 25.26%. The business had revenue of $57.36 million for the quarter, compared to the consensus estimate of $51.99 million. As a group, equities analysts forecast that Karooooo will post 1.21 EPS for the current year.

Institutional Trading of Karooooo

Several institutional investors and hedge funds have recently modified their holdings of the company. Jupiter Asset Management Ltd. raised its position in shares of Karooooo by 17.9% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 196,873 shares of the company’s stock valued at $3,920,000 after purchasing an additional 29,849 shares during the period. Schwartz Investment Counsel Inc. raised its position in shares of Karooooo by 2.0% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 51,685 shares of the company’s stock valued at $1,029,000 after purchasing an additional 1,000 shares during the period. Gladius Capital Management LP raised its position in shares of Karooooo by 7.9% during the 3rd quarter. Gladius Capital Management LP now owns 6,197 shares of the company’s stock valued at $123,000 after purchasing an additional 454 shares during the period. Finally, Barclays PLC increased its holdings in Karooooo by 430.5% in the 2nd quarter. Barclays PLC now owns 4,546 shares of the company’s stock valued at $106,000 after acquiring an additional 3,689 shares during the last quarter.

Karooooo Company Profile

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.