Karooooo Ltd. (NASDAQ:KARO) Given Average Recommendation of “Buy” by Brokerages

Shares of Karooooo Ltd. (NASDAQ:KAROGet Rating) have been given a consensus recommendation of “Buy” by the ten research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $44.51.

KARO has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of Karooooo from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, March 21st. Zacks Investment Research raised shares of Karooooo from a “sell” rating to a “hold” rating in a report on Tuesday. Canaccord Genuity Group boosted their target price on shares of Karooooo from $45.00 to $48.00 in a report on Thursday, January 20th. Finally, Canaccord Genuity Group boosted their target price on shares of Karooooo from $45.00 to $48.00 in a report on Thursday, January 20th.

Several institutional investors have recently added to or reduced their stakes in the company. Polen Capital Management LLC increased its holdings in shares of Karooooo by 1.1% in the third quarter. Polen Capital Management LLC now owns 38,584 shares of the company’s stock worth $1,139,000 after purchasing an additional 420 shares during the period. Morgan Stanley purchased a new position in Karooooo in the second quarter worth $25,000. Geode Capital Management LLC grew its position in Karooooo by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 14,527 shares of the company’s stock worth $592,000 after acquiring an additional 1,203 shares in the last quarter. Schwartz Investment Counsel Inc. grew its position in Karooooo by 7.4% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 24,828 shares of the company’s stock worth $1,012,000 after acquiring an additional 1,702 shares in the last quarter. Finally, UBS Group AG grew its position in Karooooo by 25.8% in the third quarter. UBS Group AG now owns 18,564 shares of the company’s stock worth $548,000 after acquiring an additional 3,812 shares in the last quarter. 28.00% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:KARO opened at $33.90 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.93 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $724.88 million and a PE ratio of 32.60. The firm’s 50 day moving average is $31.28 and its 200 day moving average is $32.97. Karooooo has a 12 month low of $26.95 and a 12 month high of $42.50.

Karooooo (NASDAQ:KAROGet Rating) last posted its quarterly earnings results on Tuesday, January 18th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $48.04 million for the quarter, compared to analysts’ expectations of $47.41 million. Karooooo had a net margin of 15.75% and a return on equity of 26.04%. Research analysts predict that Karooooo will post 1.12 earnings per share for the current year.

Karooooo Company Profile (Get Rating)

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 comprehensive fleet management SaaS platform that provides real-time insights; LiveVision, which offers comprehensive pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; Communicator, a software application enabling mobile device tracking and user management; asset tracking for tracking and tracing moveable assets; asset recovery services that assists vehicle owners and insurance companies with the recovery of vehicles and other assets; and insurance telematics, which allows insurers to tailor premiums for commercial and consumer customers using analytics.

Further Reading

Analyst Recommendations for Karooooo (NASDAQ:KARO)

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