Notable Price Action: KAR Auction Services Inc Can’t Burn Your Long Portfolio. Has Another Strong Session

Notable Price Action: KAR Auction Services Inc Can't Burn Your Long Portfolio. Has Another Strong Session

The stock of KAR Auction Services Inc (NYSE:KAR) is a huge mover today! About 509,888 shares traded hands. KAR Auction Services Inc (NYSE:KAR) has risen 21.89% since February 29, 2016 and is uptrending. It has outperformed by 9.67% the S&P500.
The move comes after 7 months positive chart setup for the $6.04 billion company. It was reported on Oct, 3 by We have $68.14 PT which if reached, will make NYSE:KAR worth $3.44B more.

Analysts await KAR Auction Services Inc (NYSE:KAR) to report earnings on November, 2. They expect $0.54 earnings per share, up 28.57% or $0.12 from last year’s $0.42 per share. KAR’s profit will be $75.15M for 20.09 P/E if the $0.54 EPS becomes a reality. After $0.55 actual earnings per share reported by KAR Auction Services Inc for the previous quarter, Wall Street now forecasts -1.82% negative EPS growth.

KAR Auction Services Inc (NYSE:KAR) Ratings Coverage

Out of 6 analysts covering KAR Auction Services (NYSE:KAR), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. KAR Auction Services has been the topic of 14 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of KAR Auction Services Inc (NYSE:KAR) earned “Buy” rating by Sterne Agee CRT on Friday, July 24. On Monday, August 24 the stock rating was downgraded by Zacks to “Buy”. The firm earned “Neutral” rating on Friday, February 12 by Goldman Sachs. Susquehanna initiated the stock with “Positive” rating in Friday, August 26 report. Zacks upgraded KAR Auction Services Inc (NYSE:KAR) on Friday, August 21 to “Hold” rating. The stock of KAR Auction Services Inc (NYSE:KAR) has “Buy” rating given on Wednesday, September 2 by Zacks. Jefferies initiated KAR Auction Services Inc (NYSE:KAR) rating on Monday, January 18. Jefferies has “Buy” rating and $45 price target. Zacks upgraded the shares of KAR in a report on Thursday, August 27 to “Hold” rating. Jefferies initiated KAR Auction Services Inc (NYSE:KAR) on Friday, January 15 with “Buy” rating. The stock of KAR Auction Services Inc (NYSE:KAR) has “Buy” rating given on Monday, May 2 by Sterne Agee CRT.

According to Zacks Investment Research, “KAR Auction Services, Inc., through its subsidiaries, operates as a used vehicle and salvage auto auction company in North America. The company operates in three segments: ADESA, IAAI, and AFC. The ADESA segment provides whole car auctions and related services to commercial fleet operators, financial institutions, rental car companies, used vehicle dealers, vehicle manufacturers and their captive finance companies, and franchised and independent used vehicle dealers. This segment also provides value-added ancillary services, such as inspections, storage, transportation, reconditioning and titling, and other administrative services. The IAAI segment offers salvage vehicle auctions and related services. The AFC segment offers short-term and inventory-secured financing, known as floorplan financing, to independent used vehicle dealers. KAR Auction Services, Inc. is headquartered in Carmel, Indiana.”

Insitutional Activity: The institutional sentiment decreased to 1.07 in 2016 Q2. Its down 0.01, from 1.08 in 2016Q1. The ratio worsened, as 21 funds sold all KAR Auction Services Inc shares owned while 94 reduced positions. 41 funds bought stakes while 82 increased positions. They now own 132.33 million shares or 3.42% less from 137.02 million shares in 2016Q1.
Cibc World Mkts last reported 0% of its portfolio in the stock. Kanaly Comm holds 0% of its portfolio in KAR Auction Services Inc (NYSE:KAR) for 175 shares. Canada Pension Plan Inv Board holds 0% of its portfolio in KAR Auction Services Inc (NYSE:KAR) for 11,800 shares. Boothbay Fund Management Limited Company has 0.25% invested in the company for 12,678 shares. Prudential accumulated 4,920 shares or 0% of the stock. Kalmar Invests De has 0.56% invested in the company for 304,840 shares. Panagora Asset Mgmt reported 9,084 shares or 0% of all its holdings. Balyasny Asset Limited Liability Com accumulated 270,275 shares or 0.07% of the stock. Moreover, Signaturefd Limited Com has 0% invested in KAR Auction Services Inc (NYSE:KAR) for 18 shares. Vaughan Nelson Invest Mgmt Lp last reported 3.57M shares in the company. Northern reported 1.17 million shares or 0.02% of all its holdings. Driehaus Management has 0.03% invested in the company for 21,000 shares. First Mercantile Trust has invested 0.17% of its portfolio in KAR Auction Services Inc (NYSE:KAR). Gamco Invsts Inc Et Al has 456,700 shares for 0.13% of their US portfolio. Castleark Management Ltd Liability Co accumulated 0.04% or 31,800 shares.

More recent KAR Auction Services Inc (NYSE:KAR) news were published by: which released: “Ex-Dividend Reminder: Vector Group, KAR Auction Services and Cincinnati Financial” on September 15, 2016. Also published the news titled: “PROXY CORNER: KAR Auction Services Inc.” on September 10, 2016.‘s news article titled: “KAR Auction Services, Inc. Reports Second Quarter 2016 Financial Results” with publication date: August 02, 2016 was also an interesting one.

KAR Company Profile

KAR Auction Services, Inc., incorporated on November 9, 2006, is a well-known provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Firm operates through three divisions: ADESA, Inc. (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc. (IAA) and Automotive Finance Corporation (AFC). It facilitates a marketplace by providing auction services for sellers of used, or whole car, vehicles and salvage vehicles through its approximately 240 physical auction locations, and multiple Internet venues. It facilitates the sale of over 4.4 million used and salvage vehicles. It is engaged in providing ancillary services, including transportation, reconditioning, inspections, marshalling, titling and floorplan financing. It facilitates the transfer of ownership directly from seller to buyer and it does not take title to or ownership of vehicles sold through its auctions.

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