Stifel Financial Corp cut its position in KAR Auction Services Inc (NYSE:KAR) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,139 shares of the specialty retailer’s stock after selling 362 shares during the quarter. Stifel Financial Corp’s holdings in KAR Auction Services were worth $721,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in KAR Auction Services by 2.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,696,409 shares of the specialty retailer’s stock valued at $160,949,000 after acquiring an additional 69,743 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of KAR Auction Services by 1.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,481,071 shares of the specialty retailer’s stock valued at $88,405,000 after acquiring an additional 26,793 shares during the period. American International Group Inc. increased its holdings in shares of KAR Auction Services by 105.9% in the 3rd quarter. American International Group Inc. now owns 33,104 shares of the specialty retailer’s stock valued at $1,976,000 after acquiring an additional 17,027 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of KAR Auction Services by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,334,268 shares of the specialty retailer’s stock valued at $79,642,000 after acquiring an additional 16,470 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of KAR Auction Services by 342.6% in the 3rd quarter. Hsbc Holdings PLC now owns 31,976 shares of the specialty retailer’s stock valued at $1,909,000 after acquiring an additional 24,752 shares during the period.
KAR has been the subject of several analyst reports. Zacks Investment Research raised KAR Auction Services from a “sell” rating to a “hold” rating in a report on Saturday, February 16th. SunTrust Banks decreased their price objective on KAR Auction Services to $65.00 and set a “buy” rating for the company in a report on Monday, January 7th. 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. Finally, Barrington Research reissued a “buy” rating 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 four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $63.00.
NYSE KAR traded up $0.32 during trading hours on Wednesday, reaching $55.74. The company’s stock had a trading volume of 10,544 shares, compared to its average volume of 1,782,271. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.77 and a beta of 1.11. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.81. KAR Auction Services Inc has a 1-year low of $43.32 and a 1-year high of $64.55.
KAR Auction Services (NYSE:KAR) last issued its quarterly earnings data on Tuesday, February 19th. The specialty retailer reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. KAR Auction Services had a return on equity of 26.46% and a net margin of 8.70%. The firm had revenue of $929.00 million during the quarter, compared to the consensus estimate of $936.37 million. Equities analysts predict that KAR Auction Services Inc will post 2.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 22nd were issued a $0.35 dividend. The ex-dividend date was Thursday, March 21st. This represents a $1.40 annualized dividend and a dividend yield of 2.51%. KAR Auction Services’s dividend payout ratio is currently 47.30%.
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KAR Auction Services 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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