KAR Auction Services, Inc with ticker code (KAR) now have 7 analysts in total covering the stock. The consensus rating is ‘Buy’. The target price ranges between 25 and 12 with the average target price sitting at 18.43. Given that the stocks previous close was at 13.05 this now indicates there is a potential upside of 41.2%. The 50 day moving average now sits at 13.51 while the 200 day moving average is 14.74. The company has a market cap of $1,425m. Company Website: https://www.karglobal.com
The potential market cap would be $2,013m based on the market concensus.
KAR Auction Services, Inc., 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, 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.
