Brokerages Set Karooooo Ltd. (NASDAQ:KARO) PT at $59.20

Shares of Karooooo Ltd. (NASDAQ:KARO) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $59.20.

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating on shares of Karooooo in a research report on Wednesday. UBS Group dropped their price target on shares of Karooooo from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Karooooo in a research report on Friday, April 24th. Wall Street Zen lowered shares of Karooooo from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $68.00 price target on shares of Karooooo in a research report on Thursday, May 14th.

Hedge Funds Weigh In On Karooooo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its position in Karooooo by 159.4% during the third quarter. Jones Financial Companies Lllp now owns 804 shares of the company’s stock worth $46,000 after purchasing an additional 494 shares during the last quarter. Murphy & Mullick Capital Management Corp grew its stake in Karooooo by 260.0% during the third quarter. Murphy & Mullick Capital Management Corp now owns 900 shares of the company’s stock worth $51,000 after buying an additional 650 shares during the period. Fideuram Asset Management Ireland dac purchased a new stake in Karooooo during the fourth quarter worth approximately $80,000. Royal Bank of Canada grew its stake in Karooooo by 852.9% during the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock worth $135,000 after buying an additional 2,644 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Karooooo during the second quarter worth approximately $156,000.

Karooooo Stock Performance

NASDAQ:KARO opened at $47.88 on Friday. The firm has a 50 day simple moving average of $49.10 and a 200-day simple moving average of $47.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.06 and a quick ratio of 1.05. The firm has a market cap of $1.48 billion, a PE ratio of 25.88 and a beta of 0.89. Karooooo has a 1-year low of $41.25 and a 1-year high of $60.95.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $0.45 earnings per share for the quarter. Karooooo had a net margin of 18.07% and a return on equity of 31.26%. The business had revenue of $90.93 million during the quarter. On average, equities analysts expect that Karooooo will post 2.37 EPS for the current year.

Karooooo Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, July 27th. Investors of record on Friday, July 17th will be given a dividend of $1.50 per share. This represents a yield of 347.0%. This is a positive change from Karooooo’s previous annual dividend of $1.25. The ex-dividend date of this dividend is Friday, July 17th. Karooooo’s dividend payout ratio (DPR) is currently 67.57%.

About Karooooo

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.