Karooooo’s (KARO) “Maintains” Rating Reaffirmed at Raymond James

Karooooo (NASDAQ:KARO – Get Rating)‘s stock had its “maintains” rating reiterated by equities researchers at Raymond James in a report released on Friday, Benzinga reports.

Separately, Stifel Nicolaus lowered their price target on shares of Karooooo from $40.00 to $34.00 in a research report on Thursday.

Karooooo Stock Up 3.7 %

Shares of NASDAQ:KARO opened at $26.80 on Friday. Karooooo has a one year low of $20.00 and a one year high of $40.81. The company has a 50 day moving average of $23.24 and a 200-day moving average of $28.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.79 and a quick ratio of 1.75. The stock has a market cap of $573.06 million, a price-to-earnings ratio of 25.77 and a beta of 1.32.

Karooooo (NASDAQ:KARO – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.07). Karooooo had a return on equity of 23.86% and a net margin of 16.40%. The business had revenue of $47.76 million for the quarter, compared to analyst estimates of $48.31 million. On average, sell-side analysts forecast that Karooooo will post 1.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KARO. Schwartz Investment Counsel Inc. lifted its stake in Karooooo by 7.4% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 24,828 shares of the company’s stock valued at $1,012,000 after buying an additional 1,702 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Karooooo by 27.5% in the first quarter. Jupiter Asset Management Ltd. now owns 140,612 shares of the company’s stock worth $4,085,000 after purchasing an additional 30,357 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Karooooo in the second quarter worth $128,000. Institutional investors own 28.51% of the company’s stock.

About Karooooo

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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 Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.