In a report released today, Gary Prestopino from Barrington maintained a Buy rating on Kar Auction Services Inc (KAR), with a price target of $62.50. The company’s shares opened today at $56.26.
Prestopino said:
“We see ADESA’s TradeRev platform as holding substantial growth potential through offering a digital service for dealer-to-dealer trades within a total North American market opportunity of five to seven million vehicles annually.”
According to TipRanks.com, Prestopino is a 2-star analyst with an average return of 0.8% and a 45.0% success rate. Prestopino covers the Services sector, focusing on stocks such as Payment Data Systems Inc, US Auto Parts Network, and Liquidity Services.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kar Auction Services Inc with a $59 average price target.
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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 1.84M.
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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).
