Strs Ohio lowered its position in shares of KAR Auction Services Inc (NYSE:KAR) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,105 shares of the specialty retailer’s stock after selling 1,412 shares during the period. Strs Ohio’s holdings in KAR Auction Services were worth $386,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in KAR. Retirement Systems of Alabama bought a new stake in KAR Auction Services during the 4th quarter valued at about $2,976,000. W.E. Donoghue & Co. LLC increased its stake in KAR Auction Services by 82.1% during the 3rd quarter. W.E. Donoghue & Co. LLC now owns 16,038 shares of the specialty retailer’s stock valued at $957,000 after purchasing an additional 7,233 shares in the last quarter. FIL Ltd bought a new stake in KAR Auction Services during the 3rd quarter valued at about $6,188,000. Virginia Retirement Systems ET AL grew its stake in shares of KAR Auction Services by 15.6% in the third quarter. Virginia Retirement Systems ET AL now owns 23,000 shares of the specialty retailer’s stock worth $1,373,000 after acquiring an additional 3,100 shares during the period. Finally, Great West Life Assurance Co. Can grew its stake in shares of KAR Auction Services by 29.7% in the third quarter. Great West Life Assurance Co. Can now owns 947,768 shares of the specialty retailer’s stock worth $56,664,000 after acquiring an additional 217,059 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.
NYSE:KAR traded down $0.08 during trading hours on Thursday, hitting $48.41. 1,734,500 shares of the stock traded hands, compared to its average volume of 1,338,841. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.32 and a quick ratio of 1.32. KAR Auction Services Inc has a 1 year low of $43.32 and a 1 year high of $64.55. The company has a market capitalization of $6.33 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.44 and a beta of 1.19.
KAR Auction Services (NYSE:KAR) last released its earnings results on Tuesday, February 19th. The specialty retailer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. KAR Auction Services had a net margin of 8.70% and a return on equity of 26.17%. The firm had revenue of $929.00 million for the quarter, compared to the consensus estimate of $936.37 million. On average, sell-side analysts anticipate that KAR Auction Services Inc will post 2.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 22nd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, March 21st. KAR Auction Services’s dividend payout ratio (DPR) is presently 47.30%.
A number of analysts have recently commented on the stock. SunTrust Banks reduced their price target on shares of KAR Auction Services to $65.00 and set a “buy” rating for the company in a research note on Monday, January 7th. Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a report on Friday, November 16th. ValuEngine downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. Finally, Robert W. Baird reissued a “buy” rating and issued a $56.00 price objective on shares of KAR Auction Services in a report on Wednesday, February 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $63.00.
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KAR Auction Services Company Profile
KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, 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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