Karooooo’s (KARO) “Outperform” Rating Reiterated at Raymond James

Raymond James restated their outperform rating on shares of Karooooo (NASDAQ:KARO) in a research report released on Thursday,Benzinga reports. Raymond James currently has a $51.00 price objective on the stock, up from their previous price objective of $46.00.

Karooooo Trading Up 1.5 %

Shares of NASDAQ KARO opened at $45.40 on Thursday. Karooooo has a twelve month low of $23.35 and a twelve month high of $50.54. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 30.88 and a beta of 1.03. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $45.01 and its 200-day moving average is $40.08.

Karooooo (NASDAQ:KARO) last posted its earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. Karooooo had a return on equity of 29.39% and a net margin of 19.29%. Equities research analysts predict that Karooooo will post 1.61 EPS for the current year.

Institutional Trading of Karooooo

Large investors have recently bought and sold shares of the business. Capricorn Fund Managers Ltd acquired a new stake in shares of Karooooo in the 4th quarter valued at about $6,146,000. Renaissance Technologies LLC grew its holdings in shares of Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after buying an additional 3,356 shares in the last quarter. Gladius Capital Management LP raised its position in Karooooo by 124.2% in the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after buying an additional 8,041 shares during the last quarter. Walleye Capital LLC bought a new stake in Karooooo in the 3rd quarter valued at approximately $323,000. Finally, Quadrature Capital Ltd acquired a new position in Karooooo during the 3rd quarter worth approximately $216,000.

Karooooo Company Profile

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 Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.