KAR Auction Services Inc (KAR) is Reiterated by Sterne Agee CRT to Buy, Lowers Price Target to $ 44

KAR Auction Services Inc (KAR) was Reiterated by Sterne Agee CRT to “Buy” while Lowering the Price Target of the company shares to $ 44 from a previous price target of $46 . Sterne Agee CRT advised their investors in a research report released on May 2, 2016.

Many Wall Street Analysts have commented on KAR Auction Services Inc. KAR Auction Services Inc was Downgraded by Goldman to ” Neutral” on Feb 12, 2016.

On the company’s financial health, KAR Auction Services Inc reported $0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 17, 2016. Analyst had a consensus of $0.42. The company had revenue of $682.20 million for the quarter, compared to analysts expectations of $656.76 million. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

KAR Auction Services Inc closed down -0.49 points or -1.27% at $38.17 with 10,27,817 shares getting traded on Wednesday. Post opening the session at $38.48, the shares hit an intraday low of $37.93 and an intraday high of $38.64 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Apr 14, 2016, John C Hammer (President and CEO of AFC) sold 7,500 shares at $39.00 per share price. According to the SEC, on Mar 8, 2016, Kelly Peter (CTO & Pres of Digital Srvs Grp) sold 15,000 shares at $36.22 per share price. On Feb 23, 2016, Thomas J. Caruso (Chief Client Officer) purchased 192 shares at $33.90 per share price, according to the Form-4 filing with the securities and exchange commission.

KAR Auction Services Inc. is a provider of vehicle auction services in North America. We operate as three reportable business segments: ADESA Inc. (ADESA Auctions) Insurance Auto Auctions Inc. (IAA) and Automotive Finance Corporation (AFC). ADESA Auctions is a provider of whole car auctions and related services to the vehicle remarketing industry in North America. IAA is a provider of salvage vehicle auctions and related services. AFC is a provider of floorplan financing to independent used vehicle dealers. The Company provides auction services for sellers of used or whole car vehicles and salvage vehicles through a network of around 233 physical auction locations including 65 whole car auction locations and 168 salvage auction locations and multiple Internet venues. It also offers ancillary services including transportation reconditioning inspections marshalling titling and floorplan financing.

KAR Auction Services Inc

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