Analyst Rating Update on KAR Auction Services Inc (KAR)

KAR Auction Services Inc (NYSE:KAR) : 8 analysts are covering KAR Auction Services Inc (NYSE:KAR) and their average rating on the stock is 1, which is read as a Strong Buy. 8 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels.

KAR Auction Services Inc (NYSE:KAR) : The highest short term price target forecast on KAR Auction Services Inc (NYSE:KAR) is $55 and the lowest target price is $43. A total of 8 equity analysts are currently covering the company. The average price of all the analysts is $46.06 with a standard deviation of $3.97.

For the current week, the company shares have a recommendation consensus of Buy.

KAR Auction Services Inc (NYSE:KAR): stock turned positive on Tuesday. Though the stock opened at $39.2, the bulls momentum made the stock top out at $39.86 level for the day. The stock recorded a low of $39.11 and closed the trading day at $39.77, in the green by 2.24%. The total traded volume for the day was 919,832. The stock had closed at $38.9 in the previous days trading.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (EVP of Enterprise Optimization) of Kar Auction Services, Inc., Vignes David had sold 48,505 shares worth of $2,013,928 in a transaction dated June 9, 2016. In this transaction, 48,505 shares were sold at $41.52 per share.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.