KAR Auction Services (KAR) is expected to announce its results on Tuesday


KAR Auction Services (NYSE:KAR – Get Rating) is expected to release quarterly earnings data after market close on Tuesday, August 2. Analysts expect the company to report earnings of $0.08 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

KAR Auction Services (NYSE:KAR – Get Rating) last released its quarterly results on Tuesday, May 3. The specialty retailer reported ($0.02) EPS for the quarter, missing analyst consensus estimates of $0.15 per ($0.17). The company posted revenue of $369.40 million in the quarter, compared to $559.77 million expected by analysts. KAR Auction Services achieved a return on equity of 3.35% and a net margin of 0.75%. The company’s revenue for the quarter fell 0.1% year over year. In the same period a year earlier, the company posted earnings per share of $0.45. On average, analysts expect KAR Auction Services to post EPS of $0 for the current fiscal year and EPS of $1 for the next fiscal year.

KAR Auction Services Stock Up 0.6%

KAR shares opened at $17.10 on Friday. The stock has a market capitalization of $2.08 billion, a price-earnings ratio of -106.88 and a beta of 1.30. KAR Auction Services has a 1-year minimum of $11.76 and a 1-year maximum of $22.10. The company’s 50-day simple moving average is $15.77 and its 200-day simple moving average is $15.86. The company has a debt ratio of 0.62, a current ratio of 1.21 and a quick ratio of 1.21.

Insider activity

In other news from KAR Auction Services, Director Michael T. Kestner acquired 5,000 shares of the company in a transaction on Thursday, May 19. The shares were purchased at an average price of $14.70 per share, with a total value of $73,500.00. As a result of the transaction, the administrator now directly owns 10,922 shares of the company, valued at approximately $160,553.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news from KAR Auction Services, Director J Mark Howell acquired 15,300 shares of the company in a transaction on Wednesday, May 11. The shares were purchased at an average price of $13.00 per share, with a total value of $198,900.00. Following the transaction, the director now directly owns 15,300 shares of the company, valued at approximately $198,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Michael T. Kestner purchased 5,000 shares of the company in a trade dated Thursday, May 19. The shares were purchased at an average cost of $14.70 per share, for a total transaction of $73,500.00. As a result of the transaction, the administrator now directly owns 10,922 shares of the company, valued at approximately $160,553.40. Disclosure of this purchase can be found here. Over the past 90 days, insiders have purchased 166,258 shares of the company valued at $2,189,450. 2.00% of the shares are currently held by insiders.

Hedge Funds Weigh on KAR Auction Services

Hedge funds and other institutional investors have recently changed their positions in the company. Natixis Advisors LP bought a new position in shares of KAR Auction Services during the 1st quarter for an amount of $206,000. Guggenheim Capital LLC purchased a new stock position from KAR Auction Services during Q1 worth $232,000. Engineers Gate Manager LP bought a new stock position from KAR Auction Services during Q1 worth $256,000. Verition Fund Management LLC purchased a new stock position from KAR Auction Services during Q1 for a value of $312,000. Finally, the Ontario Teachers’ Pension Board purchased a new stock position in KAR Auction Services during Q1 for $394,000.

Analysts set new price targets

Several brokerages have recently published reports on KAR. Robert W. Baird cut his price target on KAR auction services from $25.00 to $22.00 in a Thursday, May 5 report. CJS Securities upgraded KAR Auction Services from a “market performer” rating to an “outperformer” rating and set a $20.00 price target on the stock in a Wednesday, May 4, report. StockNews.com downgraded KAR Auction Services from a “held” rating to a “sell” rating in a Friday, May 6 research report. Finally, TheStreet downgraded KAR Auction Services from a “c” rating to a “d+” rating in a Wednesday, May 4 research report. One equity research analyst gave the stock a sell rating, two gave the company a hold rating and one gave the company a buy rating. Based on data from MarketBeat, KAR Auction Services has a consensus rating of “Hold” and a consensus price target of $20.67.

KAR Auction Services Company Profile

(Get a rating)

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.

Further reading

Earnings History for KAR Auction Services (NYSE: KAR)



Receive daily news and reviews for KAR Auction Services – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for KAR auction services and related companies with MarketBeat.com’s free daily email newsletter.

About Dwight E. McCray

Check Also

ARC Students See Changes to Campus Educational Facilities and Services – The American River Current

More opportunities and in-person services at the CRA are intensifying Students are back in the …