As of Thursday, KAR Auction Services Inc.’s (NYSE:KAR) stock closed at $12.36, down from $12.88 the previous day. While KAR Auction Services Inc. has underperformed by -4.04%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, KAR fell by -18.47%, with highs and lows ranging from $22.10 to $11.76, whereas the simple moving average fell by -21.31% in the last 200 days.
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On May 04, 2022, CJS Securities Upgraded KAR Auction Services Inc. (NYSE: KAR) to Market Outperform. A report published by Northcoast on February 28, 2022, Downgraded its rating to ‘Neutral’ for KAR. BofA Securities May 21, 2021d the rating to Buy on May 21, 2021, and set its price target from $15 to $26. Stephens February 18, 2021d its ‘Overweight’ rating to ‘Equal-Weight’ for KAR, as published in its report on February 18, 2021. Truist’s report from February 17, 2021 suggests a price prediction of $19 for KAR shares, giving the stock a ‘Hold’ rating. Guggenheim also rated the stock as ‘Sell’.
Analysis of KAR Auction Services Inc. (KAR)
Further, the quarter-over-quarter increase in sales is 2.20%, showing a positive trend in the upcoming months.
One of the most important indicators of KAR Auction Services Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of 11.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and KAR is recording 963.92K average volume. On a monthly basis, the volatility of the stock is set at 3.65%, whereas on a weekly basis, it is put at 3.69%, with a loss of -4.92% over the past seven days. Furthermore, long-term investors anticipate a median target price of $20.67, showing growth from the present price of $12.36, which can serve as yet another indication of whether KAR is worth investing in or should be passed over.
How Do You Analyze KAR Auction Services Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.90%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in KAR shares?
The recent increase in stakes in KAR appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in KAR has increased by 0.80% in the first quarter. The company now owns 18,162,986 shares of the stock, with a value of $265.18 million, following the purchase of 144,098 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in KAR during the first quarter, upping its stake by 0.48%. During the last quarter, the company picked up 61,954 additional shares for a total stake of worth $190.2 million, bringing number of shares owned by the company to 13,027,588.
During the first quarter, Burgundy Asset Management Ltd. added a 1,033,220 position in KAR. Cardinal Capital Management LLC sold an additional -0.17 million shares in the last quarter, decreasing its holdings by -2.95%, now holding 5.62 million shares worth $82.08 million. At the end of the first quarter, Marathon Asset Management Ltd. increased its KAR holdings by 5.88% and now holds 5.42 million KAR shares valued at $79.16 million with the added 0.3 million shares during the period.