Karooooo (NASDAQ:KARO) Sees Strong Trading Volume – Here’s What Happened

Karooooo Ltd. (NASDAQ:KARO) saw strong trading volume on Friday . 39,880 shares were traded during mid-day trading, a decline of 12% from the previous session’s volume of 45,204 shares.The stock last traded at $45.47 and had previously closed at $45.66.

Wall Street Analyst Weigh In

Separately, Raymond James reissued an “outperform” rating and set a $51.00 target price (up from $46.00) on shares of Karooooo in a research note on Thursday, January 16th.

Karooooo Stock Performance

The stock has a market capitalization of $1.40 billion, a PE ratio of 29.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25. The firm has a 50 day moving average of $46.67 and a 200-day moving average of $42.55.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. Research analysts forecast that Karooooo Ltd. will post 1.57 earnings per share for the current year.

Institutional Investors Weigh In On Karooooo

A number of institutional investors have recently modified their holdings of KARO. Squarepoint Ops LLC raised its holdings in shares of Karooooo by 6.8% during the fourth quarter. Squarepoint Ops LLC now owns 9,494 shares of the company’s stock worth $429,000 after acquiring an additional 602 shares in the last quarter. Lazard Asset Management LLC increased its position in Karooooo by 17.5% in the 4th quarter. Lazard Asset Management LLC now owns 4,961 shares of the company’s stock worth $223,000 after purchasing an additional 740 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Karooooo during the 4th quarter worth about $210,000. Northern Trust Corp purchased a new stake in shares of Karooooo during the 4th quarter worth about $340,000. Finally, Marshall Wace LLP lifted its holdings in shares of Karooooo by 32.4% during the 4th quarter. Marshall Wace LLP now owns 39,021 shares of the company’s stock valued at $1,762,000 after buying an additional 9,552 shares during the last quarter.

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.