KAR Auction Services, Inc. (NYSE:KAR) Given Consensus Rating of “Hold” by Brokerages

KAR Auction Services, Inc. (NYSE:KARGet Rating) has received a consensus rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $21.50.

KAR has been the subject of several analyst reports. Guggenheim raised KAR Auction Services from a “sell” rating to a “neutral” rating in a research note on Friday, February 25th. CJS Securities upgraded shares of KAR Auction Services from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Wednesday, May 4th. Zacks Investment Research lowered shares of KAR Auction Services from a “hold” rating to a “sell” rating in a report on Thursday, May 5th. TheStreet downgraded shares of KAR Auction Services from a “c” rating to a “d+” rating in a report on Wednesday, May 4th. Finally, StockNews.com cut KAR Auction Services from a “hold” rating to a “sell” rating in a report on Friday, May 6th.

In other KAR Auction Services news, Director J Mark Howell purchased 15,300 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $198,900.00. Following the completion of the purchase, the director now directly owns 15,300 shares of the company’s stock, valued at $198,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman James P. Hallett purchased 100,000 shares of KAR Auction Services stock in a transaction dated Wednesday, May 11th. The shares were acquired at an average cost of $13.15 per share, for a total transaction of $1,315,000.00. Following the transaction, the chairman now directly owns 626,142 shares of the company’s stock, valued at approximately $8,233,767.30. The disclosure for this purchase can be found here. Insiders have purchased a total of 161,258 shares of company stock valued at $2,115,950 in the last ninety days. 1.39% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of KAR. City State Bank acquired a new stake in shares of KAR Auction Services in the fourth quarter valued at $31,000. Counterpoint Mutual Funds LLC acquired a new position in KAR Auction Services during the 1st quarter worth $67,000. Natixis Advisors L.P. purchased a new stake in KAR Auction Services during the 1st quarter worth about $206,000. Bridgefront Capital LLC acquired a new stake in KAR Auction Services in the 4th quarter valued at about $207,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of KAR Auction Services in the 1st quarter valued at about $207,000.

KAR opened at $13.58 on Monday. KAR Auction Services has a twelve month low of $11.76 and a twelve month high of $22.10. The firm has a market capitalization of $1.65 billion, a PE ratio of -84.88, a PEG ratio of 0.77 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $16.83 and its 200 day moving average price is $15.78.

KAR Auction Services (NYSE:KARGet Rating) last issued its earnings results on Tuesday, May 3rd. The specialty retailer reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). KAR Auction Services had a return on equity of 3.35% and a net margin of 0.75%. The company had revenue of $369.40 million for the quarter, compared to analyst estimates of $559.77 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts predict that KAR Auction Services will post 0.63 earnings per share for the current fiscal year.

About KAR Auction Services (Get Rating)

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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