FY2016 EPS Estimates for KAR Auction Services, Inc Cut by Northcoast Research (KAR)

FY2016 EPS Estimates for KAR Auction Services, Inc Cut by Northcoast Research (KAR)

KAR Auction Services, Inc (NYSE:KAR) – Stock analysts at Northcoast Research lowered their FY2016 earnings per share (EPS) estimates for shares of KAR Auction Services in a research note issued to investors on Thursday. Northcoast Research analyst J. Healy now anticipates that the brokerage will earn $2.09 per share for the year, down from their prior estimate of $2.10. Northcoast Research also issued estimates for KAR Auction Services’ Q4 2016 earnings at $0.48 EPS, Q1 2017 earnings at $0.64 EPS, Q2 2017 earnings at $0.66 EPS, Q3 2017 earnings at $0.60 EPS, Q4 2017 earnings at $0.55 EPS and FY2018 earnings at $2.72 EPS.

Separately, Zacks Investment Research raised shares of KAR Auction Services from a “sell” rating to a “hold” rating in a research note on Tuesday, January 10th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $43.71.

KAR Auction Services (NYSE:KAR) opened at 45.62 on Friday. KAR Auction Services has a 12 month low of $31.73 and a 12 month high of $46.13. The company has a market cap of $6.30 billion, a P/E ratio of 28.18 and a beta of 1.35. The stock has a 50 day moving average of $44.74 and a 200-day moving average of $42.74.

In other news, EVP Lisa A. Price sold 1,720 shares of the stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $46.02, for a total value of $79,154.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kelly Peter sold 15,000 shares of the stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $42.19, for a total transaction of $632,850.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of KAR Auction Services by 17.4% in the second quarter. Legal & General Group Plc now owns 42,959 shares of the company’s stock valued at $1,790,000 after buying an additional 6,377 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of KAR Auction Services by 64.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 10,359 shares of the company’s stock valued at $432,000 after buying an additional 4,045 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of KAR Auction Services by 127.9% in the second quarter. Point72 Asset Management L.P. now owns 3,266,800 shares of the company’s stock valued at $136,356,000 after buying an additional 1,833,200 shares in the last quarter. EverPoint Asset Management LLC increased its stake in shares of KAR Auction Services by 257.5% in the second quarter. EverPoint Asset Management LLC now owns 901,401 shares of the company’s stock valued at $37,624,000 after buying an additional 649,257 shares in the last quarter. Finally, Zacks Investment Management increased its stake in shares of KAR Auction Services by 2.7% in the second quarter. Zacks Investment Management now owns 395,661 shares of the company’s stock valued at $16,515,000 after buying an additional 10,492 shares in the last quarter.

KAR Auction Services Company Profile

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 operates through three segments: ADESA, Inc (ADESA Auctions), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

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