KAR Auction Services, Inc which can be found using ticker (KAR) have now 6 analysts in total covering the stock. The consensus rating is pointing to ‘Buy’. The range between the high target price and low target price is between 25 and 12 with the average target price sitting at $17.00. Given that the stocks previous close was at $13.56 this is indicating there is a potential upside of 25.4%. Also worth taking note is the 50 day moving average now sits at $13.83 and the 200 day moving average is $14.10. The company has a market cap of $1,458m. Company Website: https://www.karglobal.com
The potential market cap would be $1,828m based on the market consensus.
KAR Auction Services, Inc., together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay. The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles. Its digital marketplaces include BacklotCars, a live auction format that allows dealers to sell and source inventory in a bidding environment in the United States; TradeRev, an online automotive remarketing platform in Canada, where dealers can sell and source used vehicle inventory at any time; ADESA U.K., an online wholesale used vehicle remarketing business in the United Kingdom; and ADESA Europe, an online wholesale vehicle marketplace in Continental Europe. This segment also provides value-added ancillary services, including inbound and outbound transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative, and collateral recovery services. This segment sells its products and services through vehicle manufacturers, fleet companies, rental car companies, finance companies, and others. The Finance segment offers floorplan financing, a short-term inventory-secured financing to independent used vehicle dealers. The company serves vehicle manufacturers, vehicle rental companies, financial institutions, commercial fleets and fleet management companies, and franchised and independent used vehicle dealers. The company was formerly known as KAR Holdings, Inc. and changed its name to KAR Auction Services, Inc. in November 2009. KAR Auction Services, Inc. was incorporated in 2006 and is headquartered in Carmel, Indiana.
The company is not paying dividends at this time.
