Barrington analyst Gary Prestopino maintained a Buy rating on Kar Auction Services Inc (KAR) today and set a price target of $62.50. The company’s shares closed yesterday at $55.99.
Prestopino noted:
“We are maintaining our 2019 and 2020 operating adjusted EPS estimates at $2.90 and $3.13, respectively, as well as our price target range of $60-65 with an OUTPERFORM investment rating on the shares. Company Description KAR Auction Services, Inc. engages in the provision of used car auction services and salvage auction services in United Kingdom. It operates through the following three segments: ADESA Auctions (IAA), and Automotive Finance Corporation (AFC). The ADESA segment provides whole care auctions and related services to the vehicle remarketing industry in North America. The IAA segment provides damaged and total loss claim solutions and salvage vehicle auctions.The AFC segment provides floor plan financing to independent used vehicle dealers. The company was founded on and is headquartered in Carmel, IN.”
According to TipRanks.com, Prestopino is a 2-star analyst with an average return of 0.2% and a 43.2% success rate. Prestopino covers the Services sector, focusing on stocks such as Payment Data Systems Inc, US Auto Parts Network, and Liquidity Services.
Kar Auction Services Inc has an analyst consensus of Strong Buy, with a price target consensus of $59.88.
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The company has a one-year high of $64.55 and a one-year low of $43.32. Currently, Kar Auction Services Inc has an average volume of 1.9M.
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KAR Auction Services, Inc. engages in the provision of used car auction services and salvage auction services in North America and the United Kingdom. It operates through the following three segments: ADESA Auctions, Insurance Auto Auctions (IAA), and Automotive Finance Corporation (AFC).
