SunTrust Robinson Thinks Kar Auction Services Inc’s Stock is Going to Recover


SunTrust Robinson analyst Stephanie Benjamin reiterated a Buy rating on Kar Auction Services Inc (KAR) yesterday and set a price target of $62. The company’s shares closed yesterday at $46.73, close to its 52-week low of $43.32.

According to TipRanks.com, Benjamin is a 2-star analyst with an average return of 1.6% and a 64.7% success rate. Benjamin covers the Services sector, focusing on stocks such as Echo Global Logistics, ArcBest Corporation, and XPO Logistics.

Currently, the analyst consensus on Kar Auction Services Inc is a Strong Buy with an average price target of $59, which is a 26.3% upside from current levels. In a report released yesterday, Barrington also assigned a Buy rating to the stock.

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Based on Kar Auction Services Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $929 million and net profit of $67.3 million. In comparison, last year the company had a net profit of $173 million.

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KAR Auction Services, Inc. engages in the provision of whole car auction services in North America and salvage auction services in North America and the United Kingdom. It operates through the following segments: ADESA Auctions, Insurance Auto Auctions (IAA), and Automotive Finance Corporation (AFC).

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