KAR Auction Services Inc (KAR) Shares are Up 1.99%

KAR Auction Services Inc (KAR) has been under a strong bear grip, hence the stock is down -3.56% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.02% in the past 1 week. The stock has risen by 1.99% in the past week indicating that the buyers are active at lower levels, but the stock is down -3.19% in the past 4 weeks.

KAR Auction Services, Inc. is up 3.81% in the last 3-month period. Year-to-Date the stock performance stands at 14.09%. The stock has recorded a 20-day Moving Average of 0.32% and the 50-Day Moving Average is 0.67%.


KAR Auction Services Inc (NYSE:KAR): The stock opened at $41.63 on Friday but the bulls could not build on the opening and the stock topped out at $41.74 for the day. The stock traded down to $41.42 during the day, due to lack of any buying support eventually closed down at $41.61 with a loss of -0.34% for the day. The stock had closed at $41.75 on the previous day. The total traded volume was 641,300 shares.

Also, In a research note released to the investors, Jefferies maintains its rating on KAR Auction Services Inc (NYSE:KAR).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Jefferies raises the new price target from $47 per share to $50 per share. The rating by the firm was issued on August 4, 2016.

KAR Auction Services, Inc. is a provider of vehicle auction services in North America. We operate as three reportable business segments: ADESA, Inc. (ADESA Auctions), Insurance Auto Auctions, Inc. (IAA) and Automotive Finance Corporation (AFC). ADESA Auctions is a provider of whole car auctions and related services to the vehicle remarketing industry in North America. IAA is a provider of salvage vehicle auctions and related services. AFC is a provider of floorplan financing to independent used vehicle dealers. The Company provides auction services for sellers of used, or whole car, vehicles and salvage vehicles through a network of around 233 physical auction locations, including 65 whole car auction locations and 168 salvage auction locations, and multiple Internet venues. It also offers ancillary services, including transportation, reconditioning, inspections, marshalling, titling and floorplan financing.

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