Barrington analyst Gary Prestopino maintained a Buy rating on Kar Auction Services Inc (KAR) today and set a price target of $40. The company’s shares opened today at $26.09, close to its 52-week low of $23.43.
Prestopino noted:
“We have an OUTPERFORM investment rating on the shares with a price target of $40. to net 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 1-star analyst with an average return of -2.1% and a 41.2% success rate. Prestopino covers the Services sector, focusing on stocks such as US Auto Parts Network, Liquidity Services, and Ritchie Bros.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kar Auction Services Inc with a $35.80 average price target.
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Kar Auction Services Inc’s market cap is currently $3.53B and has a P/E ratio of 11.31. The company has a Price to Book ratio of 2.35.
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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).
