Exclusive: Time to Buy KAR Auction Services Inc After Today’s Significant Decline?

Exclusive: Time to Buy KAR Auction Services Inc After Today's Significant Decline?

The stock of KAR Auction Services Inc (NYSE:KAR) is a huge mover today! The stock decreased 7.51% or $3.16 on November 4, hitting $38.94. About 4.99M shares traded hands or 474.66% up from the average. KAR Auction Services Inc (NYSE:KAR) has risen 10.32% since April 4, 2016 and is uptrending. It has outperformed by 9.23% the S&P500.
The move comes after 8 months negative chart setup for the $5.30B company. It was reported on Nov, 4 by Barchart.com. We have $36.21 PT which if reached, will make NYSE:KAR worth $371.00 million less.

KAR Auction Services Inc (NYSE:KAR) Ratings Coverage

Out of 6 analysts covering KAR Auction Services (NYSE:KAR), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. KAR Auction Services has been the topic of 14 analyst reports since July 24, 2015 according to StockzIntelligence Inc. On Friday, January 15 the stock rating was initiated by Jefferies with “Buy”. On Friday, August 21 the stock rating was upgraded by Zacks to “Hold”. The firm earned “Hold” rating on Thursday, August 27 by Zacks. The firm has “Buy” rating by Sterne Agee CRT given on Friday, July 24. The company was downgraded on Friday, February 12 by Goldman Sachs. The stock of KAR Auction Services Inc (NYSE:KAR) earned “Buy” rating by Zacks on Wednesday, September 2. The firm has “Buy” rating given on Monday, May 2 by Sterne Agee CRT. The firm has “Buy” rating given on Thursday, August 4 by Jefferies. The firm has “Buy” rating by Zacks given on Monday, August 24. The firm earned “Positive” rating on Friday, August 26 by Susquehanna.

According to Zacks Investment Research, “KAR Auction Services, Inc., through its subsidiaries, operates as a used vehicle and salvage auto auction company in North America. The company operates in three segments: ADESA, IAAI, and AFC. The ADESA segment provides whole car auctions and related services to commercial fleet operators, financial institutions, rental car companies, used vehicle dealers, vehicle manufacturers and their captive finance companies, and franchised and independent used vehicle dealers. This segment also provides value-added ancillary services, such as inspections, storage, transportation, reconditioning and titling, and other administrative services. The IAAI segment offers salvage vehicle auctions and related services. The AFC segment offers short-term and inventory-secured financing, known as floorplan financing, to independent used vehicle dealers. KAR Auction Services, Inc. is headquartered in Carmel, Indiana.”

Insitutional Activity: The institutional sentiment decreased to 1.07 in Q2 2016. Its down 0.01, from 1.08 in 2016Q1. The ratio turned negative, as 21 funds sold all KAR Auction Services Inc shares owned while 94 reduced positions. 41 funds bought stakes while 82 increased positions. They now own 132.33 million shares or 3.42% less from 137.02 million shares in 2016Q1.
Vanguard Grp Inc reported 9.96 million shares or 0.03% of all its holdings. Victory Capital Mngmt last reported 0.35% of its portfolio in the stock. Sarasin & Prtn Limited Liability Partnership last reported 1.42% of its portfolio in the stock. The Texas-based Vaughan Nelson Mngmt Lp has invested 1.89% in KAR Auction Services Inc (NYSE:KAR). Barnett And Company Inc has invested 0.01% of its portfolio in KAR Auction Services Inc (NYSE:KAR). Suntrust Banks holds 44,462 shares or 0.01% of its portfolio. Alyeska Investment Grp Incorporated Lp accumulated 309,478 shares or 0.13% of the stock. Assetmark holds 0% or 800 shares in its portfolio. Endurance Wealth Management Incorporated reported 800 shares or 0.01% of all its holdings. Corsair Cap Lp owns 620,908 shares or 3.95% of their US portfolio. Tiaa Cref Investment Mngmt Limited Liability Corp holds 401,585 shares or 0.01% of its portfolio. Moreover, Schwab Charles Investment Mngmt Inc has 0.03% invested in KAR Auction Services Inc (NYSE:KAR) for 543,316 shares. Geode Cap Limited Liability reported 953,912 shares or 0.02% of all its holdings. Teachers Advsr has 106,914 shares for 0.01% of their US portfolio. Mcf Advsr, a Kentucky-based fund reported 215 shares.

More recent KAR Auction Services Inc (NYSE:KAR) news were published by: Forbes.com which released: “Oversold Conditions For KAR Auction Services (KAR)” on November 04, 2016. Also Nasdaq.com published the news titled: “KAR Auction Services, Inc. Announces 5% Advance In Q3 Profit” on November 04, 2016. Globenewswire.com‘s news article titled: “KAR Auction Services, Inc. to Announce Third Quarter 2016 Earnings” with publication date: October 20, 2016 was also an interesting one.

KAR Company Profile

KAR Auction Services, Inc., incorporated on November 9, 2006, is a well-known provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Firm operates through three divisions: ADESA, Inc. (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc. (IAA) and Automotive Finance Corporation (AFC). It facilitates a marketplace by providing auction services for sellers of used, or whole car, vehicles and salvage vehicles through its approximately 240 physical auction locations, and multiple Internet venues. It facilitates the sale of over 4.4 million used and salvage vehicles. It is engaged in providing ancillary services, including transportation, reconditioning, inspections, marshalling, titling and floorplan financing. It facilitates the transfer of ownership directly from seller to buyer and it does not take title to or ownership of vehicles sold through its auctions.

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