Kar Auction Services Inc (NYSE:KAR): Jefferies Reiterates “Buy” Rating Today, Has a Target of $50.0/Share

September 17, 2017 - By Migdalia James

 Kar Auction Services Inc (NYSE:KAR): Jefferies Reiterates

Investors sentiment decreased to 0.93 in Q4 2016. Its down 0.05, from 0.98 in 2016Q3. It dropped, as 28 investors sold KAR Auction Services Inc shares while 102 reduced holdings. 43 funds opened positions while 78 raised stakes. 133.66 million shares or 2.71% less from 137.39 million shares in 2016Q3 were reported.

526,779 were reported by Corsair Mngmt Limited Partnership. Credit Suisse Ag invested 0.04% of its portfolio in KAR Auction Services Inc (NYSE:KAR). Fifth Third Fincl Bank holds 0.01% or 16,341 shares. Mawer Invest Mngmt Ltd holds 0.12% of its portfolio in KAR Auction Services Inc (NYSE:KAR) for 285,210 shares. 5,710 were accumulated by San Francisco Sentry Group (Ca). The Nebraska-based Farmers Merchants Invests Inc has invested 0% in KAR Auction Services Inc (NYSE:KAR). 958,842 are held by Citadel Advsr Ltd Liability Corp. Cadence Capital Limited Liability holds 0.05% or 17,726 shares in its portfolio. Cibc Ww invested in 5,380 shares. Carroll Fin Inc owns 129 shares. Moreover, Envestnet Asset has 0% invested in KAR Auction Services Inc (NYSE:KAR) for 6,329 shares. Vaughan Nelson Investment Limited Partnership holds 1.45% in KAR Auction Services Inc (NYSE:KAR) or 2.89 million shares. Kames Cap Public Ltd Company, United Kingdom-based fund reported 1.60 million shares. Regions Financial Corporation holds 0.28% or 537,912 shares. California State Teachers Retirement Sys holds 0.02% or 286,151 shares in its portfolio.

Kar Auction Services Inc (NYSE:KAR) Rating Reaffirmed

Recently, In a report shared with investors and clients on Monday, 11 September, Kar Auction Services Inc (NYSE:KAR) shares have had their “Buy” Rating kept by research professionals at Jefferies, who currently has a $50.0 target on company. This target by Jefferies means the possibile upside of 9.17 % from the last stock price.

Investors sentiment decreased to 0.93 in Q4 2016. Its down 0.05, from 0.98 in 2016Q3. It dropped, as 28 investors sold KAR Auction Services Inc shares while 102 reduced holdings. 43 funds opened positions while 78 raised stakes. 133.66 million shares or 2.71% less from 137.39 million shares in 2016Q3 were reported.

526,779 were reported by Corsair Mngmt Limited Partnership. Credit Suisse Ag invested 0.04% of its portfolio in KAR Auction Services Inc (NYSE:KAR). Fifth Third Fincl Bank holds 0.01% or 16,341 shares. Mawer Invest Mngmt Ltd holds 0.12% of its portfolio in KAR Auction Services Inc (NYSE:KAR) for 285,210 shares. 5,710 were accumulated by San Francisco Sentry Group (Ca). The Nebraska-based Farmers Merchants Invests Inc has invested 0% in KAR Auction Services Inc (NYSE:KAR). 958,842 are held by Citadel Advsr Ltd Liability Corp. Cadence Capital Limited Liability holds 0.05% or 17,726 shares in its portfolio. Cibc Ww invested in 5,380 shares. Carroll Fin Inc owns 129 shares. Moreover, Envestnet Asset has 0% invested in KAR Auction Services Inc (NYSE:KAR) for 6,329 shares. Vaughan Nelson Investment Limited Partnership holds 1.45% in KAR Auction Services Inc (NYSE:KAR) or 2.89 million shares. Kames Cap Public Ltd Company, United Kingdom-based fund reported 1.60 million shares. Regions Financial Corporation holds 0.28% or 537,912 shares. California State Teachers Retirement Sys holds 0.02% or 286,151 shares in its portfolio.

KAR Auction Services Inc (NYSE:KAR) Ratings Coverage

Among 8 analysts covering KAR Auction Services (NYSE:KAR), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. KAR Auction Services has $62 highest and $35 lowest target. $45’s average target is -1.75% below currents $45.8 stock price. KAR Auction Services had 19 analyst reports since July 24, 2015 according to SRatingsIntel. As per Monday, January 18, the company rating was initiated by Jefferies. The firm has “Buy” rating by Sterne Agee CRT given on Monday, May 2. The stock of KAR Auction Services Inc (NYSE:KAR) earned “Neutral” rating by Goldman Sachs on Friday, February 12. The rating was maintained by Jefferies on Thursday, August 4 with “Buy”. The stock has “Buy” rating by Jefferies on Wednesday, July 19. On Monday, August 24 the stock rating was downgraded by Zacks to “Buy”. The stock of KAR Auction Services Inc (NYSE:KAR) has “Positive” rating given on Friday, August 26 by Susquehanna. The firm has “Hold” rating given on Thursday, August 27 by Zacks. Jefferies maintained the shares of KAR in report on Monday, September 11 with “Buy” rating. Gabelli initiated the stock with “Buy” rating in Friday, April 7 report.

The stock increased 0.04% or $0.02 on September 15, reaching $45.8. About 986,605 shares traded. KAR Auction Services Inc (NYSE:KAR) has risen 7.49% since September 17, 2016 and is uptrending. It has underperformed by 9.21% the S&P500.

Wall Street await KAR Auction Services Inc (NYSE:KAR) to release earnings on November, 2. Analysts forecast earnings per share of $0.51, up exactly $0.01 or 2.00 % from 2014’s $0.5 EPS. The expected KAR’s profit could reach $70.04 million giving the stock 22.45 P/E in the case that $0.51 earnings per share is reported. After posting $0.65 EPS for the previous quarter, KAR Auction Services Inc’s analysts now forecast -21.54 % negative EPS growth.

KAR Auction Services, Inc. is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The company has market cap of $6.29 billion. The Firm operates through three divisions: ADESA, Inc. , Insurance Auto Auctions, Inc. (IAA) and Automotive Finance Corporation (AFC). It has a 28.06 P/E ratio. The ADESA segment is a well-known provider of whole car auctions and related services to the vehicle remarketing industry in North America.

Another recent and important KAR Auction Services Inc (NYSE:KAR) news was published by Nasdaq.com which published an article titled: “Ex-Dividend Reminder: Tiffany, KAR Auction Services and Ramco-Gershenson …” on September 15, 2017.

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