Comerica Bank Trims Holdings in KAR Auction Services, Inc. (NYSE:KAR)

Comerica Bank trimmed its position in KAR Auction Services, Inc. (NYSE:KARGet Rating) by 47.9% during the third quarter, Holdings Channel.com reports. The firm owned 88,613 shares of the specialty retailer’s stock after selling 81,555 shares during the period. Comerica Bank’s holdings in KAR Auction Services were worth $1,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System lifted its holdings in KAR Auction Services by 2.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 49,550 shares of the specialty retailer’s stock valued at $732,000 after purchasing an additional 967 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in KAR Auction Services in the 2nd quarter valued at about $27,000. Yousif Capital Management LLC lifted its holdings in KAR Auction Services by 1.7% in the 1st quarter. Yousif Capital Management LLC now owns 111,272 shares of the specialty retailer’s stock valued at $2,008,000 after purchasing an additional 1,820 shares in the last quarter. Texas Permanent School Fund lifted its holdings in KAR Auction Services by 2.3% in the 2nd quarter. Texas Permanent School Fund now owns 87,841 shares of the specialty retailer’s stock valued at $1,297,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of KAR Auction Services by 1.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 107,209 shares of the specialty retailer’s stock valued at $1,987,000 after acquiring an additional 2,031 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on KAR shares. Bank of America downgraded shares of KAR Auction Services from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $23.00 to $17.00 in a research note on Monday, January 9th. JPMorgan Chase & Co. dropped their price objective on shares of KAR Auction Services from $25.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. StockNews.com downgraded shares of KAR Auction Services from a “hold” rating to a “sell” rating in a research note on Thursday, November 3rd. Finally, Robert W. Baird dropped their price objective on shares of KAR Auction Services from $22.00 to $18.00 in a research note on Thursday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.40.

KAR Auction Services Stock Up 2.2 %

KAR opened at $14.41 on Tuesday. The firm has a 50 day moving average price of $13.41 and a 200 day moving average price of $14.08. The company has a market cap of $1.57 billion, a PE ratio of 14.41 and a beta of 1.45. KAR Auction Services, Inc. has a 1 year low of $11.15 and a 1 year high of $22.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14.

KAR Auction Services (NYSE:KARGet Rating) last posted its earnings results on Tuesday, November 1st. The specialty retailer reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The business had revenue of $393.00 million for the quarter, compared to analyst estimates of $393.02 million. KAR Auction Services had a return on equity of 2.27% and a net margin of 12.34%. Sell-side analysts expect that KAR Auction Services, Inc. will post 0.29 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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