Karooooo Ltd. (NASDAQ:KARO) Given Average Recommendation of “Moderate Buy” by Brokerages

Karooooo Ltd. (NASDAQ:KARO) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $73.50.

A number of analysts recently issued reports on the company. Roth Capital reiterated a “buy” rating and issued a $74.00 price target on shares of Karooooo in a report on Friday, July 17th. Raymond James Financial lifted their target price on Karooooo from $60.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Zacks Research cut Karooooo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Needham & Company LLC increased their price target on Karooooo from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Freedom Capital lowered Karooooo from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th.

Insider Activity at Karooooo

In other news, CEO Isaias Calisto sold 6,202 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $63.50, for a total value of $393,827.00. Following the completion of the sale, the chief executive officer owned 17,640,700 shares of the company’s stock, valued at approximately $1,120,184,450. This represents a 0.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 277,617 shares of company stock valued at $17,840,247. Insiders own 74.73% of the company’s stock.

Institutional Trading of Karooooo

Several hedge funds and other institutional investors have recently bought and sold shares of KARO. Capricorn Fund Managers Ltd grew its position in shares of Karooooo by 16.9% in the 1st quarter. Capricorn Fund Managers Ltd now owns 278,346 shares of the company’s stock worth $13,873,000 after buying an additional 40,268 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in shares of Karooooo by 22.9% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company’s stock valued at $3,566,000 after purchasing an additional 14,600 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Karooooo by 115.4% in the 3rd quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock worth $4,234,000 after purchasing an additional 39,709 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Karooooo by 699.1% in the 2nd quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock worth $2,723,000 after purchasing an additional 48,644 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Karooooo by 43.1% during the 4th quarter. First Trust Advisors LP now owns 46,767 shares of the company’s stock worth $2,128,000 after buying an additional 14,078 shares during the last quarter.

Karooooo Stock Performance

Karooooo stock opened at $64.78 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01. The firm has a market capitalization of $2.00 billion, a P/E ratio of 32.88 and a beta of 0.89. Karooooo has a 1-year low of $41.25 and a 1-year high of $68.80. The company’s 50-day moving average is $63.06 and its 200 day moving average is $53.51.

Karooooo (NASDAQ:KARO) last released its earnings results on Thursday, July 16th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $96.26 million for the quarter. Karooooo had a return on equity of 32.03% and a net margin of 17.74%. Research analysts forecast that Karooooo will post 2.41 EPS for the current year.

Karooooo Company Profile

Karooooo Ltd. is a technology company that provides connected-vehicle and mobility solutions through its Cartrack platform. Its software helps businesses and consumers monitor vehicles, manage fleets, improve driver safety, track assets and use telematics data to support operational decision-making.

Cartrack’s products and services include vehicle tracking and recovery, fleet management, GPS navigation, driver behavior monitoring, vehicle and asset monitoring, fleet maintenance tools, and reporting and analytics.