Karooooo (NASDAQ:KARO) Reaches New 52-Week High – Still a Buy?

Karooooo Ltd. (NASDAQ:KARO) reached a new 52-week high during trading on Friday . The company traded as high as $50.01 and last traded at $49.22, with a volume of 18993 shares changing hands. The stock had previously closed at $45.82.

Karooooo Stock Up 4.8 %

The business has a 50-day moving average price of $43.57 and a 200 day moving average price of $38.93. The stock has a market capitalization of $1.03 billion, a P/E ratio of 32.67 and a beta of 1.04. 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 (NASDAQ:KARO) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $60.26 million. Karooooo had a net margin of 19.29% and a return on equity of 29.39%. On average, equities analysts expect that Karooooo Ltd. will post 1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Karooooo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KARO. Quadrature Capital Ltd purchased a new position in shares of Karooooo in the 3rd quarter worth approximately $216,000. Walleye Capital LLC purchased a new position in Karooooo during the third quarter worth $323,000. Gladius Capital Management LP increased its position in Karooooo by 124.2% during the third quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock valued at $575,000 after acquiring an additional 8,041 shares during the last quarter. Renaissance Technologies LLC raised its stake 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 acquiring an additional 3,356 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Karooooo by 5.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 209,097 shares of the company’s stock worth $6,001,000 after acquiring an additional 10,705 shares during the last quarter.

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.