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

Raymond James reiterated their outperform rating on shares of Karooooo (NASDAQ:KARO) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $51.00 target price on the stock, up from their prior target price of $46.00.

Karooooo Stock Performance

Shares of Karooooo stock opened at $44.74 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. Karooooo has a 12-month low of $23.35 and a 12-month high of $50.54. The business’s 50 day moving average is $44.83 and its 200-day moving average is $39.87.

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

Hedge Funds Weigh In On Karooooo

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its stake in shares of Karooooo by 50.6% during the 2nd quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock worth $116,000 after acquiring an additional 1,377 shares during the period. Quadrature Capital Ltd acquired a new stake in Karooooo during the 3rd quarter valued at $216,000. Walleye Capital LLC acquired a new position in shares of Karooooo in the third quarter valued at $323,000. Renaissance Technologies LLC raised its position in shares of Karooooo by 23.3% in the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after purchasing an additional 3,356 shares during the period. Finally, Gladius Capital Management LP raised its position in shares of Karooooo by 124.2% in the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after purchasing an additional 8,041 shares during the period.

About Karooooo

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.