KAR Auction Services, Inc. (NYSE:KAR) Expected to Report Quarterly Sales of $376.47 Million


Wall Street analysts expect KAR Auction Services, Inc. (NYSE: KAR – Get Rating) to record sales of $376.47 million for the current fiscal quarter, Zacks reports. Three analysts have made earnings estimates for KAR Auction Services, with the highest sales estimate at $392.00 million and the lowest estimate at $365.50 million. KAR Auction Services recorded sales of $585.40 million in the same quarter last year, indicating a negative growth rate of 35.7% year-over-year. The company is due to announce its next quarterly results on Monday, January 1.

According to Zacks, analysts expect KAR Auction Services to report annual sales of $1.52 billion for the current year, with estimates ranging from $1.48 billion to $1.60 billion. . For the next fiscal year, analysts expect the company to post sales of $1.68 billion, with estimates ranging from $1.55 billion to $1.87 billion. Zacks sales averages are an average based on a survey of research companies that provide coverage for KAR auction services.

KAR Auction Services (NYSE:KAR – Get Rating) last released quarterly earnings data on Tuesday, May 3. The specialty retailer reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.13 per ($0.15). KAR Auction Services achieved a return on equity of 3.35% and a net margin of 0.75%. The company posted revenue of $369.40 million for the quarter, versus a consensus estimate of $559.77 million. During the same period of the previous year, the company achieved EPS of $0.45. The company’s revenue decreased 0.1% year-over-year.

Several research analysts have recently released reports on the stock. Robert W. Baird lowered his target price on KAR Auction Services shares from $25.00 to $22.00 in a research note on Thursday, May 5. Northcoast Research downgraded KAR Auction Services shares from a “buy” rating to a “neutral” rating and set a target price of $20.00 for the stock. in a Monday, February 28 research note. TheStreet downgraded shares of KAR Auction Services from a “c” rating to a “d+” rating in a Wednesday, May 4, research note. Guggenheim upgraded KAR Auction Services shares from a “sell” rating to a “neutral” rating in a Friday, Feb. 25 research note. Finally, StockNews.com downgraded KAR Auction Services shares from a “hold” rating to a “sell” rating in a Friday, May 6 research rating. Two research analysts have assigned the stock a sell rating, two have issued a hold rating and three have assigned the company’s stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $21.83.

Separately, Chairman James P. Hallett acquired 100,000 shares of KAR Auction Services in a transaction dated Wednesday, May 11. The shares were purchased at an average cost of $13.15 per share, with a total value of $1,315,000.00. Following the completion of the purchase, the President now directly owns 626,142 shares of the company, valued at approximately $8,233,767.30. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, Director J Mark Howell acquired 15,300 shares of KAR Auction Services in a transaction dated Wednesday, May 11. The shares were purchased at an average cost of $13.00 per share, with a total value of $198,900.00. Following the completion of the purchase, the director now owns 15,300 shares of the company, valued at $198,900. Disclosure of this purchase can be found here. Over the past ninety days, insiders have acquired 161,258 shares of the company valued at $2,115,950. 1.31% of the shares are held by insiders.

Several hedge funds and other institutional investors have recently changed their positions in KAR. City State Bank purchased a new stock position from KAR Auction Services during the fourth quarter at a value of $31,000. Counterpoint Mutual Funds LLC purchased a new stock position from KAR Auction Services during the first quarter for a value of $67,000. Natixis Advisors LP bought a new position in shares of KAR Auction Services during the first quarter at a value of $206,000. Bridgefront Capital LLC purchased a new stock position from KAR Auction Services during the fourth quarter at a value of $207,000. Finally, Blueshift Asset Management LLC purchased a new equity position from KAR Auction Services during the first quarter at a value of $207,000.

NYSE:KAR opened at $13.58 on Friday. KAR Auction Services has a 1-year low of $11.76 and a 1-year high of $22.10. The company has a debt ratio of 0.62, a current ratio of 1.21 and a quick ratio of 1.21. The company’s 50-day simple moving average is $16.83 and its 200-day simple moving average is $15.77. The company has a market capitalization of $1.65 billion, a P/E ratio of -84.88, a PEG ratio of 0.75 and a beta of 1.34.

KAR Auction Services Company Profile (Get an evaluation)

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. United. The Company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment provides whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

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