Karooooo Ltd. (KARO) – What Are Investment Firms Thinking About This Stock?

by · The Cerbat Gem

Shares of Karooooo Ltd. (NASDAQ:KARO – Get Free Report) have received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $72.80.

A number of equities analysts recently weighed in on KARO shares. Wall Street Zen downgraded shares of Karooooo from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Roth Capital reaffirmed a “buy” rating and set a $74.00 price objective on shares of Karooooo in a research report on Friday, July 17th. Zacks Research cut Karooooo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Freedom Capital cut Karooooo from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, Freedom Broker lifted their price target on shares of Karooooo from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 22nd.

View Our Latest Research Report on KARO

Insider Activity

In other Karooooo news, CEO Isaias Calisto sold 33,833 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $66.14, for a total value of $2,237,714.62. Following the sale, the chief executive officer owned 17,714,186 shares of the company’s stock, valued at $1,171,616,262.04. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 133,272 shares of company stock worth $8,581,693 in the last quarter. Insiders own 74.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KARO. Capricorn Fund Managers Ltd raised its holdings in shares of Karooooo by 16.9% during the 1st quarter. Capricorn Fund Managers Ltd now owns 278,346 shares of the company’s stock valued at $13,873,000 after purchasing an additional 40,268 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Karooooo by 1.4% in the first quarter. Renaissance Technologies LLC now owns 27,987 shares of the company’s stock worth $1,395,000 after purchasing an additional 400 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Karooooo during the first quarter worth about $1,015,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Karooooo by 35.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 19,259 shares of the company’s stock valued at $960,000 after buying an additional 4,999 shares in the last quarter. Finally, Vest Financial LLC raised its holdings in Karooooo by 96.9% in the 3rd quarter. Vest Financial LLC now owns 12,109 shares of the company’s stock valued at $727,000 after acquiring an additional 5,960 shares during the period.

Karooooo Stock Performance

Shares of NASDAQ:KARO opened at $65.66 on Wednesday. Karooooo has a 12-month low of $41.25 and a 12-month high of $68.80. The business has a 50 day moving average of $63.70 and a 200-day moving average of $54.46. The stock has a market cap of $2.03 billion, a PE ratio of 31.42 and a beta of 0.81. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.17.

About Karooooo

(Get Free Report)

Karooooo Ltd. is a Singapore-based technology company that provides connected-vehicle and mobility solutions through its Cartrack business. Its cloud-based platform uses telematics, vehicle tracking and data analytics to help businesses monitor vehicles and assets, improve fleet operations, manage driver behavior and enhance safety.

The company’s products and services include real-time vehicle location and monitoring, fleet management, stolen-vehicle recovery, vehicle and asset tracking, maintenance and fuel-management tools, and workflow solutions.

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