Barrington Sticks to Its Buy Rating for Kar Auction Services (KAR)

By Carrie Williams

Barrington analyst Gary Prestopino maintained a Buy rating on Kar Auction Services (KARResearch Report) today and set a price target of $25.00. The company’s shares closed last Monday at $12.53, close to its 52-week low of $9.75.

According to TipRanks.com, Prestopino has 0 stars on 0-5 star ranking scale with an average return of -11.0% and a 33.8% 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 with a $27.83 average price target, representing a 131.1% upside. In a report issued on March 11, Robert W. Baird also maintained a Buy rating on the stock with a $22.00 price target.

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Kar Auction Services’ market cap is currently $1.55B and has a P/E ratio of 7.30. The company has a Price to Book ratio of -1.96.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KAR in relation to earlier this year.

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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 and Automotive Finance Corporation (AFC). The ADESA segment provides whole care auctions and related services to the vehicle remarketing industry in North America. The AFC segment provides floor plan financing to independent used vehicle dealers. The company was founded on November 9, 2006 and is headquartered in Carmel, IN.