Strs Ohio bought a new stake in shares of KAR Auction Services, Inc. (NYSE:KAR – Get Rating) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,900 shares of the specialty retailer’s stock, valued at approximately $175,000.
A number of other hedge funds have also added to or reduced their stakes in KAR. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in KAR Auction Services by 33.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,142 shares of the specialty retailer’s stock valued at $309,000 after buying an additional 4,333 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of KAR Auction Services by 14.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 45,726 shares of the specialty retailer’s stock worth $825,000 after purchasing an additional 5,726 shares in the last quarter. Mission Wealth Management LP grew its holdings in shares of KAR Auction Services by 3.0% during the first quarter. Mission Wealth Management LP now owns 24,771 shares of the specialty retailer’s stock worth $447,000 after purchasing an additional 714 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of KAR Auction Services during the first quarter worth about $67,000. Finally, Comerica Bank grew its holdings in shares of KAR Auction Services by 64.1% during the first quarter. Comerica Bank now owns 171,608 shares of the specialty retailer’s stock worth $3,001,000 after purchasing an additional 67,034 shares in the last quarter.
KAR Auction Services Stock Up 1.2%
Shares of KAR opened at $13.50 on Friday. The firm has a market cap of $1.56 billion, a P/E ratio of 12.86 and a beta of 1.42. The stock has a 50 day simple moving average of $13.59 and a two-hundred day simple moving average of $15.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 1.13. KAR Auction Services, Inc. has a 1 year low of $11.15 and a 1 year high of $22.10.
KAR Auction Services (NYSE:KAR – Get Rating) last issued its earnings results on Tuesday, August 2nd. The specialty retailer reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.12). The firm had revenue of $384.20 million during the quarter, compared to analysts’ expectations of $376.47 million. KAR Auction Services had a return on equity of 2.17% and a net margin of 11.64%. On average, analysts forecast that KAR Auction Services, Inc. will post 0.35 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. StockNews.com assumed coverage on KAR Auction Services in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet raised KAR Auction Services from a “d+” rating to a “c-” rating in a research note on Thursday, August 11th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, KAR Auction Services currently has a consensus rating of “Hold” and a consensus price target of $20.67.
About KAR Auction Services
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. The company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.