KAR Auction Services, Inc with ticker code (KAR) have now 6 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The target price ranges between 28 and 15 with the average target price sitting at 21.17. Given that the stocks previous close was at 17.25 this indicates there is a potential upside of 22.7%. The 50 day moving average now sits at 15.98 and the 200 day moving average is 15.81. The market cap for the company is $2,100m. Company Website: https://www.karglobal.com
The potential market cap would be $2,577m based on the market concensus.
KAR Auction Services, together with its subsidiaries, provides used vehicle auctions and related vehicle remarketing services for the automotive industry in the United States, Europe, Canada, Mexico, and the United Kingdom. The company operates through two segments, ADESA Auctions and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities. It also provides value-added services, such as auction related, transportation, reconditioning, inspection, title and repossession administration and remarketing, vehicle research, and analytical services, as well as data as a service. This segment sells its products and services through vehicle manufacturers, fleet companies, rental car companies, finance companies, and others. As of December 31, 2021, this segment had a network of approximately 70 vehicle logistics center locations in North America. The AFC segment offers floorplan financing, a short-term inventory-secured financing to independent used vehicle dealers; and sells vehicle service contracts. The company provides wheel repair and hail catastrophe response services. It serves vehicle manufacturers, vehicle rental companies, financial institutions, commercial fleets and fleet management companies, and dealer customers. The company was formerly known as KAR Holdings and changed its name to KAR Auction Services in November 2009. KAR Auction Services was incorporated in 2006 and is headquartered in Carmel, Indiana.
