KAR Auction Services, Inc – Consensus Indicates Potential 13.1% Upside

Broker Ratings

KAR Auction Services, Inc found using ticker (KAR) now have 9 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The target price ranges between 26 and 11 with a mean TP of 18.78. Given that the stocks previous close was at 16.61 this would indicate that there is a potential upside of 13.1%. The 50 day MA is 17.2 and the 200 day MA is 16.85. The company has a market capitalisation of $2,055m. Company Website: http://www.karglobal.com

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, 2020, this segment had a network of 74 whole car auction facilities 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 founded in 2006 and is headquartered in Carmel, Indiana.

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