KAR Auction Services, Inc. (NYSE:KAR) Receives Average Rating of “Hold” from Brokerages

KAR Auction Services, Inc. (NYSE:KAR – Get Rating) has earned a consensus rating of “Hold” from the eight research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $19.40.

Several research firms recently issued reports on KAR. StockNews.com lowered KAR Auction Services from a “hold” rating to a “sell” rating in a research report on Thursday, November 3rd. Robert W. Baird lowered their price objective on KAR Auction Services from $22.00 to $18.00 in a research report on Thursday, November 3rd. Bank of America cut KAR Auction Services from a “buy” rating to an “underperform” rating and cut their target price for the company from $23.00 to $17.00 in a research note on Monday, January 9th. Finally, JPMorgan Chase & Co. decreased their price objective on KAR Auction Services from $25.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, November 3rd.

KAR Auction Services Price Performance

Shares of KAR opened at $13.49 on Tuesday. The business has a 50-day simple moving average of $13.42 and a two-hundred day simple moving average of $14.14. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. KAR Auction Services has a 12-month low of $11.15 and a 12-month high of $22.10. The stock has a market cap of $1.47 billion, a PE ratio of 13.49 and a beta of 1.45.

KAR Auction Services (NYSE:KAR – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The specialty retailer reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The firm had revenue of $393.00 million for the quarter, compared to the consensus estimate of $393.02 million. KAR Auction Services had a net margin of 12.34% and a return on equity of 2.27%. Analysts anticipate that KAR Auction Services will post 0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KAR Auction Services

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in KAR Auction Services by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 13,185,743 shares of the specialty retailer’s stock worth $238,002,000 after buying an additional 549,574 shares in the last quarter. Burgundy Asset Management Ltd. lifted its position in KAR Auction Services by 14.3% during the second quarter. Burgundy Asset Management Ltd. now owns 8,275,138 shares of the specialty retailer’s stock worth $122,224,000 after acquiring an additional 1,033,220 shares during the last quarter. Marathon Asset Management Ltd raised its position in shares of KAR Auction Services by 5.9% in the second quarter. Marathon Asset Management Ltd now owns 5,422,179 shares of the specialty retailer’s stock valued at $80,084,000 after buying an additional 301,124 shares in the last quarter. Paradice Investment Management LLC increased its stake in KAR Auction Services by 3.1% in the second quarter. Paradice Investment Management LLC now owns 4,784,528 shares of the specialty retailer’s stock valued at $70,667,000 after acquiring an additional 145,133 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in KAR Auction Services by 8.1% in the third quarter. Dimensional Fund Advisors LP now owns 4,684,802 shares of the specialty retailer’s stock valued at $52,333,000 after acquiring an additional 352,294 shares during the last quarter.

About KAR Auction Services

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KAR Auction Services, Inc, together with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.