KAR Auction Services, Inc (NYSE:KAR):
instaVINÂ® Launches Redesigned Responsive Website for Vehicle History Reports.
The company is so far trading up by 0.92 percent from yesterday’s close.
KAR Auction Services, Inc also recently declared a dividend which was paid on Thursday July 6th, 2017. The dividend payment was $0.320 per share for the quarter which is $1.28 annualized. The dividend yield was $3.09. The ex-dividend date was set for Monday the 19th of June 2017.
KAR Auction Services, Inc., launched on November 9, 2006, 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). It facilitates a marketplace by providing auction services for sellers of used, or whole car, vehicles and salvage vehicles through its physical auction locations, and multiple Internet venues. It facilitates the sale of used and salvage vehicles. It is involved in providing ancillary services, including transportation, reconditioning, inspections, marshalling, titling and floorplan financing. It facilitates the transfer of ownership directly from seller to buyer and it does not take title to or ownership of vehicles sold through its auctions. The Company has a North American network of whole car auction locations and salvage auction locations. IAA also includes HBC Vehicle Services Limited, which operates from the locations in the United Kingdom. Its auction locations are primarily standalone facilities dedicated to either whole car or salvage auctions..
Shares of the company are trading at $40.67 which is slightly below the 50 day moving average of $43.16 and which is a tad under the 200 day moving average of $43.92. The 50 day moving average was down $-2.52 or -5.83% whereas the 200 day moving average was down $-3.28 or -7.46%.
The P/E ratio is 24.48 and the market cap of the company is 5.57B. In the last earnings report the EPS was $1.66 and is expected to be $2.22 for the current year with 137,149,000 shares now outstanding. Next quarter’s EPS is forecasted to be $0.54 with next year’s EPS projected to be $2.48.
Several brokerage analysts have weighed in on KAR of late. Equity analyst Susquehanna started covering the stock with an initial rating of “Positive”. Equity analyst Goldman Sachs lowered the price target and downgraded the stock on February 12 changing the price objective from $42.00 to $35.00 and cutting the rating from “Conviction Buy” to “Neutral”.
On February 12 the stock rating was downgraded to “Neutral” from “Conviction Buy” with a current price target of $35.00 in an announcement from Goldman Sachs. On January 15 analysts at Jefferies starting coverage on the stock with a rating of “Buy”.
Sterne Agee began coverage of the stock giving it an initial rating of “Buy” and a price target of $49.00. On March 5, 2015 SunTrust Robinson Humphrey began coverage of KAR setting a rating of “Buy” and price target of $46.00.