Karooooo (NASDAQ:KARO) Shares Gap Down to $36.00

Shares of Karooooo Ltd. (NASDAQ:KAROGet Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $36.00, but opened at $33.91. Karooooo shares last traded at $34.20, with a volume of 6 shares changing hands.

KARO has been the subject of several recent analyst reports. Stifel Nicolaus reduced their target price on Karooooo from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, March 21st. Canaccord Genuity Group upped their target price on Karooooo from $45.00 to $48.00 in a report on Thursday, January 20th. Canaccord Genuity Group upped their target price on Karooooo from $45.00 to $48.00 in a report on Thursday, January 20th. Finally, Zacks Investment Research upgraded Karooooo from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Karooooo presently has a consensus rating of “Buy” and a consensus price target of $44.36.

The firm’s 50 day moving average price is $31.32. The company has a market capitalization of $731.30 million and a PE ratio of 34.62. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.95 and a quick ratio of 1.93.

Karooooo (NASDAQ:KAROGet Rating) last announced its quarterly earnings data on Tuesday, January 18th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. Karooooo had a return on equity of 26.04% and a net margin of 15.75%. The firm had revenue of $48.04 million for the quarter, compared to analysts’ expectations of $47.41 million. Sell-side analysts expect that Karooooo Ltd. will post 1.12 EPS for the current year.

Several large investors have recently made changes to their positions in KARO. Morgan Stanley bought a new position in shares of Karooooo during the second quarter valued at about $25,000. Bank of America Corp DE bought a new stake in shares of Karooooo in the second quarter worth about $1,110,000. Polen Capital Management LLC grew its stake in shares of Karooooo by 1.1% in the third quarter. Polen Capital Management LLC now owns 38,584 shares of the company’s stock worth $1,139,000 after purchasing an additional 420 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Karooooo by 15.6% in the third quarter. Geode Capital Management LLC now owns 13,324 shares of the company’s stock worth $393,000 after purchasing an additional 1,795 shares during the last quarter. Finally, Gobi Capital LLC grew its stake in shares of Karooooo by 100.0% in the third quarter. Gobi Capital LLC now owns 200,000 shares of the company’s stock worth $5,904,000 after purchasing an additional 100,000 shares during the last quarter. 28.00% of the stock is currently owned by hedge funds and other institutional investors.

Karooooo Company Profile (NASDAQ:KARO)

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 comprehensive fleet management SaaS platform that provides real-time insights; LiveVision, which offers comprehensive pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; Communicator, a software application enabling mobile device tracking and user management; asset tracking for tracking and tracing moveable assets; asset recovery services that assists vehicle owners and insurance companies with the recovery of vehicles and other assets; and insurance telematics, which allows insurers to tailor premiums for commercial and consumer customers using analytics.

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