Karooooo (NASDAQ:KARO) Stock Price Down 5% – What’s Next?
by Tristan Rich · The Markets DailyKarooooo Ltd. (NASDAQ:KARO – Get Free Report) traded down 5% during trading on Monday . The stock traded as low as $51.00 and last traded at $50.68. 11,043 shares changed hands during trading, a decline of 76% from the average session volume of 46,370 shares. The stock had previously closed at $53.35.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Roth Mkm assumed coverage on Karooooo in a report on Tuesday, February 17th. They set a “buy” rating and a $62.00 price objective for the company. Wall Street Zen raised Karooooo from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Finally, Weiss Ratings upgraded shares of Karooooo from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, January 27th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.00.
Karooooo Price Performance
The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.53 billion, a P/E ratio of 26.76 and a beta of 1.02. The firm’s fifty day moving average price is $48.19 and its 200-day moving average price is $47.22.
Karooooo (NASDAQ:KARO – Get Free Report) last issued its earnings results on Tuesday, January 20th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. Karooooo had a net margin of 19.45% and a return on equity of 31.83%. The firm had revenue of $82.34 million for the quarter, compared to analysts’ expectations of $79.04 million. Analysts forecast that Karooooo Ltd. will post 2.05 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in shares of Karooooo by 159.4% in 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 lifted its stake in Karooooo by 260.0% in the third quarter. Murphy & Mullick Capital Management Corp now owns 900 shares of the company’s stock worth $51,000 after acquiring an additional 650 shares during the period. Copeland Capital Management LLC purchased a new stake in Karooooo in the third quarter worth $76,000. Fideuram Asset Management Ireland dac purchased a new stake in Karooooo in the fourth quarter worth $80,000. Finally, Royal Bank of Canada lifted its stake in Karooooo by 852.9% in the fourth quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock worth $135,000 after acquiring an additional 2,644 shares during the period.
Karooooo Company Profile
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.