KAR Auction Services (NYSE:KAR) released its earnings results on Monday. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.10, Bloomberg Earnings reports. The company had revenue of $890.40 million for the quarter, compared to analyst estimates of $882.22 million. KAR Auction Services had a return on equity of 22.37% and a net margin of 6.94%. KAR Auction Services’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS.
KAR Auction Services (KAR) traded down $0.62 during trading hours on Tuesday, reaching $51.40. The company had a trading volume of 163,191 shares, compared to its average volume of 784,613. The firm has a market capitalization of $7,036.48, a price-to-earnings ratio of 30.60, a PEG ratio of 1.78 and a beta of 1.10. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. KAR Auction Services has a fifty-two week low of $40.27 and a fifty-two week high of $55.19.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Thursday, March 22nd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.72%. KAR Auction Services’s dividend payout ratio (DPR) is presently 82.35%.
In related news, EVP Lisa A. Price sold 6,563 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $54.05, for a total value of $354,730.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Benjamin Skuy sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $48.50, for a total value of $582,000.00. The disclosure for this sale can be found here. Insiders sold 28,563 shares of company stock worth $1,448,530 over the last ninety days. 1.30% of the stock is currently owned by insiders.
An institutional investor recently raised its position in KAR Auction Services stock. The Manufacturers Life Insurance Company boosted its holdings in KAR Auction Services Inc (NYSE:KAR) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,210 shares of the specialty retailer’s stock after buying an additional 363 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in KAR Auction Services were worth $177,000 at the end of the most recent reporting period. 97.65% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on KAR. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Wednesday, February 7th. Stephens set a $57.00 target price on KAR Auction Services and gave the stock a “hold” rating in a report on Wednesday, January 17th. Gabelli lowered KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. increased their target price on KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.40.
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KAR Auction Services Company Profile
KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).
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