KAR Auction Services Inc (KAR) is Initiated by Susquehanna to Positive

KAR Auction Services Inc (KAR) was Initiated by Susquehanna to “Positive”. Susquehanna advised their investors in a research report released on Aug 26, 2016.

Many Wall Street Analysts have commented on KAR Auction Services Inc. KAR Auction Services Inc was Downgraded by Northcoast to ” Neutral” on Jul 14, 2016.

On the company’s financial health, KAR Auction Services Inc reported $0.55 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.56. The company had revenue of $771.80 million for the quarter, compared to analysts expectations of $754.30 million. The company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

KAR Auction Services Inc opened for trading at $41.87 and hit $42.53 on the upside on Tuesday, eventually ending the session at $42.27, with a gain of 0.96% or 0.4 points. The heightened volatility saw the trading volume jump to 11,54,877 shares. Company has a market cap of $5,831 M.

Investors should note that on Aug 2, 2016, KAR Auction Services Inc announced a cash dividend of $0.2900. The company’s management has announced Sep 19, 2016 as the ex-dividend date and fixed the record date on Sep 21, 2016. The payable date has been fixed on Oct 4, 2016.

In a different news, on Aug 11, 2016, Donald S. Gottwald (Chief Operating Officer) sold 18,125 shares at $40.38 per share price. According to the SEC, on Jun 30, 2016, Thomas J. Caruso (Chief Client Officer) sold 48,860 shares at $41.14 per share price. On Jun 16, 2016, Warren W Byrd (EVP of Corp Dev & Real Estate) sold 27,978 shares at $40.05 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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