In a report issued on June 14, Craig Kennison from Robert W. Baird maintained a Buy rating on Kar Auction Services (KAR – Research Report), with a price target of $22.00. The company’s shares closed last Thursday at $13.78.
According to TipRanks.com, Kennison is a 4-star analyst with an average return of 5.6% and a 45.0% success rate. Kennison covers the Consumer Goods sector, focusing on stocks such as MasterCraft Boat Holdings, Camping World Holdings, and Winnebago Industries.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kar Auction Services with a $23.00 average price target, a 62.8% upside from current levels. In a report issued on June 15, Barrington also maintained a Buy rating on the stock with a $25.00 price target.
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Based on Kar Auction Services’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $369 million and GAAP net loss of $300K. In comparison, last year the company earned revenue of $370 million and had a net profit of $50.9 million.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KAR in relation to earlier this year.
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KAR Auction Services, Inc. engages in the provision of used car auction services and salvage auction services in North America and the United Kingdom. It operates through the following three segments: ADESA Auctions and Automotive Finance Corporation (AFC). The ADESA segment provides whole care auctions and related services to the vehicle remarketing industry in North America. The AFC segment provides floor plan financing to independent used vehicle dealers. The company was founded on November 9, 2006 and is headquartered in Carmel, IN.
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