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KAR Auction Services Inc. (KAR) – Don’t Believe the Hype: Check The Facts

397 institutions hold shares in KAR Auction Services Inc. (KAR), with 1.08M shares held by insiders accounting for 0.84% while institutional investors hold 104.69% of the company’s shares. The shares outstanding are 129.60M, and float is at 128.17M with Short Float at 7.96%. Institutions hold 103.81% of the Float.

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The top institutional shareholder in the company is Wellington Management Group, LLP with over 17.48 million shares valued at $325.3 million. The investor’s holdings represent 13.48% of the KAR Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 14.28 million shares valued at $265.84 million to account for 11.01% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 12.06 million shares representing 9.30% and valued at over $224.44 million, while Cardinal Capital Management LLC holds 4.27% of the shares totaling 5.54 million with a market value of $103.14 million.

KAR Auction Services Inc. (NYSE: KAR) is -21.33% lower on its value in year-to-date trading and has touched a low of $9.41 and a high of $20.85 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The KAR stock was last observed hovering at around $15.48 in the last trading session, with the day’s loss setting it -0.84% off its average median price target of $17.50 for the next 12 months. It is also 41.44% off the consensus price target high of $25.00 offered by 10 analysts, but current levels are -33.09% lower than the price target low of $11.00 for the same period.

Currently trading at $14.64, the stock is -3.51% and -12.57% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.05 million and changing -5.43% at the moment leaves the stock -11.46% off its SMA200. KAR registered 24.07% gain for a year compared to 6-month loss of 4.50%. The firm has a 50-day simple moving average (SMA 50) of $15.78 and a 200-day simple moving average (SMA200) of $16.96.

The stock witnessed a 5.25% gain in the last 1 month and extending the period to 3 months gives it a -19.47%, and is -4.50% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.15% over the week and 4.61% over the month.

KAR Auction Services Inc. (KAR) has around 10000 employees, a market worth around $1.83B and $2.19B in sales. Fwd P/E is 12.80. Profit margin for the company is -1.00%. Distance from 52-week low is 55.58% and -29.78% from its 52-week high. The company has generated returns on investments over the last 12 months (3.70%).

KAR Auction Services Inc. (KAR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for KAR Auction Services Inc. (KAR) is a “Hold”. 10 analysts offering their recommendations for the stock have an average rating of 2.60, where 4 rate it as a Hold and 1 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

KAR Auction Services Inc. is expected to release its quarterly report on 05/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.12 with sales reaching $567.38M over the same period.The EPS is expected to shrink by -123.50% this year, but quarterly earnings will post 12.30% year-over-year. Quarterly sales are estimated to shrink -12.10% in year-over-year returns.

KAR Auction Services Inc. (KAR) Insider Activity

A total of 86 insider transactions have happened at KAR Auction Services Inc. (KAR) in the last six months, with sales accounting for 42 and purchases happening 44 times. The most recent transaction is an insider purchase by Smith Mary Ellen, the company’s Director. SEC filings show that Smith Mary Ellen bought 5,000 shares of the company’s common stock on Nov 11 at a price of $17.78 per share for a total of $88900.0. Following the purchase, the insider now owns 17067.0 shares.

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KAR Auction Services Inc. (KAR): Who are the competitors?

The company’s main competitors (and peers) include Copart Inc. (CPRT) that is trading 50.95% up over the past 12 months and Lithia Motors Inc. (LAD) that is 348.44% higher over the same period. CarMax Inc. (KMX) is 128.36% up on the 1-year trading charts. Short interest in the company’s stock has risen 8.14% from the last report on Feb 11, 2021 to stand at a total of 9.37 million short shares sold with a short interest ratio of 2.53.

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