Karooooo (NASDAQ:KARO) Sets New 12-Month High – What’s Next?

Karooooo Ltd. (NASDAQ:KARO) hit a new 52-week high during trading on Friday . The stock traded as high as $51.00 and last traded at $50.25, with a volume of 52453 shares. The stock had previously closed at $44.90.

Wall Street Analyst Weigh In

Separately, Raymond James reiterated an “outperform” rating and set a $51.00 price target (up previously from $46.00) on shares of Karooooo in a research report on Thursday, January 16th.

Karooooo Trading Up 11.9%

The stock has a market cap of $1.55 billion, a P/E ratio of 32.21 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25. The stock has a 50-day moving average price of $41.87 and a 200-day moving average price of $43.85.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. The firm had revenue of $65.12 million during the quarter, compared to the consensus estimate of $1.18 billion. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. During the same quarter last year, the company posted $6.81 EPS. On average, equities research analysts expect that Karooooo Ltd. will post 1.57 EPS for the current year.

Institutional Trading of Karooooo

A number of hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new stake in Karooooo in the 1st quarter worth approximately $418,000. Credit Agricole S A lifted its position in Karooooo by 95.5% in the 1st quarter. Credit Agricole S A now owns 14,049 shares of the company’s stock worth $598,000 after buying an additional 6,861 shares during the last quarter. Capricorn Fund Managers Ltd lifted its position in Karooooo by 8.0% in the 1st quarter. Capricorn Fund Managers Ltd now owns 143,470 shares of the company’s stock worth $6,103,000 after buying an additional 10,586 shares during the last quarter. Nipun Capital L.P. bought a new stake in Karooooo in the 1st quarter worth approximately $242,000. Finally, Squarepoint Ops LLC lifted its position in Karooooo by 6.8% in the 4th quarter. Squarepoint Ops LLC now owns 9,494 shares of the company’s stock worth $429,000 after buying an additional 602 shares during the last quarter.

Karooooo Company Profile

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.