KAR Auction Services Inc (NYSE:KAR) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 2,161,600 shares, a decrease of 19.0% from the May 30th total of 2,667,900 shares. Based on an average daily trading volume, of 1,880,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.6% of the company’s stock are sold short.

Several research firms have weighed in on KAR. Barrington Research upped their price objective on shares of Franklin Covey from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, June 28th. ValuEngine lowered shares of WideOpenWest from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of SS&C Technologies in a research note on Monday, July 1st. SunTrust Banks upped their price objective on shares of Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Monday, July 1st. Finally, Guggenheim upped their price objective on shares of Equinix from $505.00 to $540.00 and gave the company a “sell” rating in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $42.50.

Institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of KAR Auction Services by 7.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,065 shares of the specialty retailer’s stock worth $414,000 after purchasing an additional 588 shares during the last quarter. Gideon Capital Advisors Inc. acquired a new position in shares of KAR Auction Services during the 4th quarter worth $475,000. APG Asset Management N.V. increased its stake in shares of KAR Auction Services by 248.0% during the 4th quarter. APG Asset Management N.V. now owns 142,000 shares of the specialty retailer’s stock worth $5,928,000 after purchasing an additional 101,200 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of KAR Auction Services by 2.7% during the 4th quarter. Macquarie Group Ltd. now owns 39,200 shares of the specialty retailer’s stock worth $1,871,000 after purchasing an additional 1,019 shares during the last quarter. Finally, Cornerstone Advisors Inc. acquired a new position in shares of KAR Auction Services during the 1st quarter worth $46,000. Institutional investors own 99.45% of the company’s stock.

Shares of KAR traded up $0.16 during mid-day trading on Friday, hitting $24.84. 2,932,090 shares of the company’s stock were exchanged, compared to its average volume of 3,285,899. The firm’s fifty day simple moving average is $49.14. KAR Auction Services has a twelve month low of $16.41 and a twelve month high of $26.00. The firm has a market capitalization of $3.31 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.38.

KAR Auction Services (NYSE:KAR) last announced its quarterly earnings results on Tuesday, May 7th. The specialty retailer reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.07). KAR Auction Services had a return on equity of 25.43% and a net margin of 8.17%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $0.82 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts forecast that KAR Auction Services will post 1.27 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.35 per share. The ex-dividend date was Friday, May 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.64%. KAR Auction Services’s dividend payout ratio (DPR) is 47.30%.

About KAR Auction Services

KAR Auction Services, Inc, together with its subsidiaries, provides used car auction and salvage auction services in the United States, Canada, Mexico, and the United Kingdom. The company operates through three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities.

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